Austin Tops Another List

Austin is used to topping prestigious lists.  But these days, we keep popping up on lists that aren’t so grand.  These lists, issued by a variety of organizations, rank the cities who real estate prices have fallen the most.  Since our peak in May of last year through February of this year, prices in Austin have dropped about 24%.  While that sounds bad, keep in mind that for about two years, we were one of, if not the, hottest market in the country.  Even with this pullback, our prices are still up 44% compared to the start of 2020.  So it isn’t a pretty picture for those who bought in the last year, but the vast majority of homeowners in the area are still doing very well.