Should I wait to buy a home in Austin?

It appears to be a mixed bag right now in Austin. While there are fewer homes for sale, prices are still going down compared to last year. If you wait, you might see prices drop further, but there will also be fewer new homes to choose from. Right now, the typical home in Austin is listed at $475,000. That hasn't changed in the last month, but it's nearly 10% lower than it was a year ago. So, homes have become quite a bit more affordable over the past year. This could mean you have a little more room to negotiate. Almost 27% of homes have had their prices cut, even though that's slightly less than last year. Homes are also staying on the market longer, now typically 56 days, which is a jump of nearly 22% from last year. The number of homes for sale is down a bit, with about 4.5% fewer active listings than last year. And there are 13% fewer brand new homes coming onto the market compared to a year ago. So while prices are lower, your choices might be more limited. Overall, if you're thinking of buying, you could benefit from current lower prices and homes staying on the market longer. But be aware that there aren't as many new homes to choose from, so you might need to be patient to find the right fit.