Is it a good time to buy a house in Austin 2022? Key market stats:
Zillow Home Value Index (ZHVI) for Austin is $686,669 through May 2022. Home values in Austin have increased by 29.4% over the last year. Over the past five years home values in Austin have increased by 99%.
Is buying a house in Austin worth it? Appreciation is nothing new
NeighborhoodScout research shows that Austin real estate has appreciated more than 102% over the last decade, giving Austin homes an average annual appreciation rate of 7.28%. That puts the city in the top 10% nationally for appreciation, and it keeps mortgage lenders busy.
Will home prices drop in 2022 Austin? Austin-area home sales decreased while prices kept climbing in Q2 of 2022. A new report from Texas Realtors shows the median home price in the area is $546,000, which is 17.4% more than this time last year.
Will housing prices drop in Austin? With pending home sales down, Austin’s real estate market is showing early signs of slowing down. But home prices are still up nearly 20% from May 2021.