Newsflash: Austin Market Crashed!?

Okay, so maybe not “Austin” specifically, but the south suburbs, Buda, Kyle, San Marcos, etc. Anyone seeing a DRASTIC pullback in buyers? About 30 days and zero showings/zero offers. Price reduced twice and is now ~$30K lower than what we started. Don’t want to keep reducing so often and look desperate (even though in a way we are…within reason).Neighbors in the same community have also reduced their asking price a few times as well and no one is getting hits. Had two houses, separate weeks, have an open house on my same street and I don’t recall seeing anyone show up.Are we just in a bad time of year with HS/college graduations; is it all the new builds still available in the community; or does no one care about Austin, nevermind S Austin anymore?* Edit: I should add that we’re all using different listing agents and offering anywhere from 2-3% BAC, so it doesn’t seem that that is a factor.

Read more at https://www.reddit.com/r/RealEstate/comments/1cy7iuw/austin_market_crashed/?utm_source=ifttt

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