Thanks to Jimmy Buffett for writing that classic line. What's that sound you're not hearing? The lack of a warble out of your phone may be signaling the Austin market is changing. It was a week ago today that ABOR (Austin Board of Realtors) released numbers indicating that home sales FELL 6% in June for the first time in over 5 years.
In local mastermind groups that I belong to, the anecdotes that I'm hearing from other agents support the statistics. Listing inventory is up an has continuted to rise over the course of the summer which is pretty unusual. One title rep that I spoke with stated that her phone has been ringing off the wall with agents trying to get their listings on property tour.
The question that we have to ask is WHY? Our employment numbers are great, the economy in Austin is strong. We've had an incredibly wet summer, are folks getting the TX version of SAD (Seasonal Affective Disorder) that usually casts it's gloomy pall over Seattle? What do you think? Why is the market slowing down in Austin?
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