Austin Inventory Hits a Record High as Texas Housing Tilts Toward Buyers

After a bruising stretch, the Texas housing market is beginning to find its footing — even as buyers keep the upper hand in much of the state.

In its July update, the Texas Real Estate Research Center at Texas A&M University said the market is showing signs of stabilization. Months of supply stopped climbing for the first time in the current cycle, and statewide price declines are starting to moderate. Still, high mortgage rates, affordability strains and elevated inventory continue to hold both buyers and sellers back.

Austin's inventory glut

Nowhere is the shift clearer than in Austin, where inventory has swelled to the highest level ever recorded — around 17,724 homes on the market. Statewide, inventory is up 7.2 percent from a year earlier. That pileup gives buyers more room to negotiate on price and terms than they have had in years.

The picture varies sharply by region: some North Texas markets are already seeing prices firm up again, even as the state's largest metros work through their excess supply.

Sources: Texas Real Estate Research Center, Republic Title.