Market Correction Coming To Southwest Florida’s Housing Market

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According to the Austin Board of Realtors , median house prices hit a document $465,000 this month — the fourth straight month it’s set a report, and fifth out of the previous six. Year over 12 months, costs are up greater than 42 p.c and nicely above pre-pandemic costs, too. And while the organization says housing inventory is “critically low,” greater than $2.3 billion was spent on Austin area housing in May alone. And supply is having trouble keeping up with demand — as of May, the month-to-month housing stock had less …