Austin, TX—Once Among the Nation’s Hottest Housing Markets—Is Now the Slowest
Rocket Companies, Inc. Class A (RKT)
Company Research
Source: Business Wire
Redfin reports unsustainable price growth in recent years, along with a homebuilding boom, has left Austin with more sellers than buyers. That means the buyers who are in the market can take their time and negotiate. SEATTLE--(BUSINESS WIRE)--The typical home that went under contract in Austin, TX in December spent 106 days on the market, up from 91 days a year earlier, according to a new report from Redfin, the real estate brokerage powered by Rocket. That’s the slowest December in records dating back to 2012.Nationwide, the typical home that went under contract in December did so in 60 days, up from 54 days a year earlier.This is based on a Redfin analysis of MLS data, comparing this December to past Decembers because the data is seasonal.Austin was the slowest market among the 50 most populous metropolitan areas. Tied for second place were San Antonio and Fort Lauderdale, FL, where the typical home that went under contract in December spent 99 days on the market. Next came Miami
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