Austin homes used to sell in a week. Now sales take months, if they happen at all. KUT 90.5 | By Audrey McGlinchy Published November 9, 2023 at 5:00 AM CST click here for the direct KUT story/article link When Lindsay Mader put her house up for sale earlier this year, she braced herself. For the past two years, the combination of plummeting mortgage interest rates and an influx of remote workers to Austin meant for-sale homes were in high demand. The result was a frenzy . Dozens of people bid to buy the same home, some of them offering $100,000 over the asking price. Then, everything changed. Mortgage interest rates nearly tripled in a year. Buying a home became much more expensive and interested buyers dried up. “We knew that the market was nowhere what it used to be,” Mader said. “But I don't think we were adequately prepared.” In May, Mader and her husband listed their North Austin home for $650,000. Then, they waited. “The weeks just kept passing by and we we...
A Residential Real Estate Blog covering the city of Austin, Texas. Highlighting "Off Market" along with Austin Silent Market Inc Real Estate Active MLS Properties for Sale & Lease. Proud Indie ATX Business Advocacy and Local Culture. Curated by Austin Silent Market Broker Associate = George Vance McGee 512.657.9281 direct & georgevance@gmail.com