Meg O'Connor Realtor

You may be wondering if home prices are dropping. The answer is yes, but home prices have still appreciated year over year. So how can it be both? The median sales price has trended down month over month since June of this year. We’ve moved from a 43% year over year rate of appreciation to 5% year over year appreciation rate, and are approaching the depreciation zone. Median sales prices dip seasonally in the fall months, and the continued rise in interest rates will likely put continued downward pressure on prices. Get the latest Austin housing market information that buyers and sellers need to succeed here: https://www.realtyaustin.com/t/meg-oconnor/blog/market-conditions-begin-to-favor-buyers