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Austin housing market given ominous warning

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Austin housing market given ominous warning


The vertiginous fall of home prices in Austin, Texas, seems to have no end in sight, according to experts who believe that steep declines are likely to continue in the coming months.

A recent analysis by real estate intelligence platform Parcl Labs estimates that the Texas capital will see the biggest downturn in home prices in the country over the next year—even as the cost of buying a home in the city has already fallen drastically from its COVID-19 pandemic peak.

Austin’s housing market, according to Parcl Labs, is currently in “bear territory”—which means, essentially, that property values have been dropping for a consistent period of time—with home prices now over 20 percent down from their peak.

Despite this dip, researchers at the company said, “we still expect home prices to decline 16.5 percent from current levels over the next 12 months. This is the largest expected decline in our coverage universe of 40 real estate markets nationally.”

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Behind Austin’s Housing Market Downfall

According to Redfin, the median sale price of a home in May—the latest month for which reliable monthly figures are available—was $557,500, down 5 percent from a year earlier. At their peak in May 2022, home sale prices in the city had reached a median of $667,000—which means that buying property in Austin was over $200,000 more expensive than it had been before the pandemic, when it was around $400,000.

In the same month, home sales in the city were down by 12.1 percent year-over-year, at 861, and those homes that went under contract spent an average of 48 days on the market, six more than in May 2024. Active listings in the Austin-Round Rock metropolitan area totaled 12,525, up from 9,902 a year earlier. Inventory was actually higher than pre-pandemic level and the highest going as far as 2016, according to data from Realtor.com.

“It’s important to understand why these adjustments are happening and what they represent for the health of the market,” Emily Girard, chief executive officer (CEO) of Unlock MLS and the Austin Board of REALTORS (ABOR), told Newsweek. “What we’re seeing in Austin is a necessary and overdue normalization after an unprecedented period of price acceleration during the pandemic. It is a return to sustainability.”

Home prices skyrocketed during the pandemic homebuying frenzy unleashed by historically low mortgage rates.

“In 2021 during the pandemic, more homes were sold in the Austin-Round Rock MSA than ever before, and sales dollar volume yielded more than a $23 billion impact on the Austin-area economy,” Girard said. “The pandemic led to increased demand as buyers in the market had more disposable income and reevaluated their needs in a living space after spending months at home.”

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She added: “That, combined with record-low interest rates at the time and an Austin economy that continued to make major company relocation announcements regularly, led to more homes being sold and prices increasing to an unsustainable level.”

The price declines that the city has been experiencing for the past couple of years represent “healthy adjustments,” Girard said as the market “normalizes.”

And prices, as experts say, are continuing to fall.

According to Redfin data, Austin was one of the metros reporting the biggest year-over-year declines in median sale prices, at -4.2 percent, in the four weeks ending July 6.

Photo-illustration by Newsweek/Getty/Canva

Buyers on Top

The Austin housing market downturn does not mean that the city has now become undesirable for buyers—quite the opposite.

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“For buyers, this is one of the most favorable environments we’ve seen in years,” Girard said. “Buyers have time to shop, compare and negotiate—luxuries that weren’t available during the pandemic boom. They’re in the market with more intention and more options, especially with increased affordability for first-time and moderate-income homebuyers.”

Sellers might have a harder time accepting that they no longer have the upper hand, and they may be forced to compromise on prices—especially as price declines are expected to continue.

“Prices will continue to drop this year. That’s because the last half of the year we always have more inventory. And if you ever look at the seasonal bell curve in Austin’s selling season, prices always come down in the last half of the year,” Austin-based realtor Jeremy Knight told Newsweek. “Yet, there are a lot of buyers on the sidelines. If we do see rates come down in the last half of the year, you’ll see more closed numbers and buyers frantic in the market.”

Unfortunately, a majority of experts expect mortgage rates to continue hovering between the 6 and 7 percent marks through this year and 2026.

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Man charged after driving 100 mph in East Austin, crashing into bus station: affidavit

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Man charged after driving 100 mph in East Austin, crashing into bus station: affidavit


A man was charged with intoxication manslaughter after a crash in East Austin.

The backstory:

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According to an arrest affidavit, on April 17, around 1:31 a.m., officers responded to a crash in the 2800 block of East Martin Luther King Jr. Blvd.

An investigation revealed the driver, Jalen Carter, 32, was driving a 2026 white Nissan at an estimated speed of 100 mph in a 45 mph zone. The car “bottomed out” at a train crossing and lost control. The car then hit a utility pole, hit a bus station, and five parked cars before finally coming to a stop. 

A passenger in the car, Carter’s mother, suffered a serious hand injury. 

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One witness told an officer that Carter had been smoking marijuana about 30 minutes before driving and was acting “abnormal and paranoid.” An officer described Carter’s eyes as bloodshot and glassy. 

An officer said he also “exhibited cyclic behavior” and was alternating between grabbing his mother and falling unconscious.

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When officers tried talking to Carter, they said he was uncooperative and combative. They also said he ignored verbal commands and had to be removed from his mother. 

Carter and his mother were taken to a local hospital. His mother lost her thumb and required emergency surgery. 

At the hospital, Cater was so aggressive that it took about 10 people, including four security guards, to hold him down. He was eventually sedated and intubated. 

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Carter was later charged with intoxication assault.

The Source: Information from an arrest affidavit

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Crime and Public SafetyEast Austin



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Athena the owl: 2nd owlet discovered to be alive

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Athena the owl: 2nd owlet discovered to be alive


It was initially believed that both of Athena the owl’s owlets at the Lady Bird Johnson Wildflower Center had died, but officials reported some hopeful news.

What we know:

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On April 19, the wildflower center had posted that both of Athena’s owlets had not survived after they had been born on April 9 and April 11.

The first owlet died on April 17 and the second owlet was reported to have died overnight on April 18. 

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Athena was not seen at the nest and was not spotted in nearby trees.

The wildflower center continued to monitor the nest and on April 20, the second owlet was found to be alive and showing signs of movement. 

In coordination with Austin Wildlife Rescue, the owlet was retrieved and is being rehabilitated.

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What we don’t know:

Officials say early signs are encouraging and that the owlet is showing strength and appetite.

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The exact cause of the death of the first owlet is now known, but the wildflower center says a variety of natural factors can affect survival, including food availability.

The backstory:

Since 2012, a pair of great horned owls have made a specific corner of the Lady Bird Johnson Wildflower Center their home. Like clockwork, the pair return each year to nest above the archway of the courtyard entrance, greeting visitors who pass beneath them.

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The female owl, affectionately named Athena, has become a staple of the center.

Athena’s reach extends far beyond the local Austin community. Through a partnership with the Cornell Lab of Ornithology, the center hosts a 24/7 livestream of the nest, allowing bird-watchers from around the globe to monitor her progress in real-time. 

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The City of Austin also recently designated Athena the official Owl Ambassador of Austin.

The Source: Information from Lady Bird Johnson Wildflower Center and previous reporting by FOX 7 Austin.

Wild NatureAustin
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America 250 celebration: Texans who fought for independence honored in Austin – Texas – The Black Chronicle

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America 250 celebration: Texans who fought for independence honored in Austin – Texas – The Black Chronicle


(The Center Square) – As part of Texas’ celebration of the founding of the United States, a new monument was unveiled in Austin commemorating 69 patriots who fought for U.S. independence who later came to Texas.

Texas is also celebrating its first U.S. Navy fleet week in state history in the Houston area, where roughly 1,000 sailors and Marines are participating in nearly 200 events as part of the America 250 celebration. This also includes commemorating the Texas Navy, which helped win Texas’ independence from Mexico 190 years ago this April, The Center Square reported.

Gov. Greg Abbott and the leaders of the Texas Society Sons of the American Revolution unveiled a new monument honoring Texas revolutionary war patriots at the Texas State Cemetery in Austin.

Abbott, a direct descendent of a patriot who supported the cause of American independence, was also inducted into the Sons of the American Revolution and received the Silver Good Citizenship Medal.

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“It is appropriate to remember that today, April 18th, 251 years ago, the Battles of Lexington and Concord occurred with the shot heard around the world,” Mel Oller, president of the Texas Society of the Sons of the American Revolution, said.

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On the evening of April 18, Paul Revere rode from Boston to Charlestown warning colonists that British troops were coming. Several hundred Minute Men and colonial militia fought British soldiers the next morning in Concord and Lexington, the first battles of the American Revolutionary War.

The commemoration in Austin was important “to reflect on the courage, sacrifice and enduring principles that gave birth to the United States of America,” Oller said. “This monument stands as a tribute to those patriots and reminder to future generations of the ideas that continue to shape our Republic.”

“Texans played a role in the war too, and it’s important to recognize them, and the sacrifices they made for our freedom,” he said.

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“The history that is etched the United States into the annals of the greatest country in the history of the world,” Abbott said. As others try to rewrite American history or “try to condemn the glory of what America has been able to achieve,” Abbott said Texas was focusing on teaching children about U.S. and Texas history. “We must educate every generation about why it is that America grew from just a tenuous 13 colonies into the most powerful country in the history of the world.”

“There could hardly be a better time to dedicate this monument than during our 250th celebration of freedom, of independence,” he said. It’s “an enduring testament to the heroes who fought for that freedom that is unique to America.”

One of the greatest gifts Revolutionary War heroes gave Americans was freedom, Abbott said, “but freedom is not a one-time event. The fight didn’t end with the Treaty of Paris. It’s an everyday process, perpetually. Just as the patriots took to the hillsides to battle the Red Coats, modern day Patriots” continue to fight for freedom, including the failed policies of Marxism, he said. Many Texans’ ancestors “died for a country they would never get to see. Stories of these heroes must be told. Generations of Americans must be reminded of who they are and what they fought for.”

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There are 69 American Revolutionary War heroes listed alphabetically on the monument who later settled in Texas, including native Tejanos who fought for American independence, according to TSSAR.

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Listed first is John Abston, who enlisted in the militia in Virginia when he was 18. He fought alongside and under men like John Crockett, father of Davy Crockett, in one of the most pivotal battles of the war: the Battle of Kings Mountain, in South Carolina. He later moved to Collin County, Texas.

Another is José Santiago Seguín, the grandfather of Texas Revolutionary hero Juan Seguín, the first and only Tejano to be elected to the Republic of Texas Senate. He also fought with Sam Houston in the Battle of San Jacinto.

Another is Peter Sides, who fought with a North Carolina regiment against the British. He later joined the Gutierrez-Magee expedition in 1812 and was killed in 1813 at the Battle of Medina in what is now Bexar County. The battle is “known as the bloodiest battle on Texas soil. The rebels’ bodies were desecrated and their body parts were removed and scattered,” the TSSAR explains.

Another is William Sparks, who joined a North Carolina militia when he was 17. He and his family later moved to Nacagdoches, Texas; his sons and grandsons fought for Texas independence.

Listed at the bottom of the monument is Ira Hobart Evans, a Congressional Medal of Honor recipient and the youngest Speaker of the Texas House who founded the Texas Society of the Sons of American Revolution.

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