The Texas housing market experienced a boom post-COVID-19 due to high demand from major employers and a growing tech sector, particularly in Austin.
Despite soaring home prices in Texas cities initially, the market has cooled substantially with significant inventory growth and year-over-year declines in home prices.
Austin's inventory growth peaked at an astonishing 345.8% in April 2023, contributing to a trend of declining home prices as the market stabilizes.
Year-over-year inventory growth has been significant across Texas metros, with Dallas seeing a peak of 189.7%, indicating a shift in the housing market dynamics.
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