Austin, TX
Austin housing market “distress” sees prices slashed by over 30 percent
Austin’s housing market is in “acute distress” as newly built homes continue flooding the market at the same time as sales plummet in the Texas capital, according to a new study by Parcl Labs.
The former pandemic boomtown has been building more homes than most of the country in the past five years, as demand and prices skyrocketed during the health emergency when so many out-of-state Americans wanted to move to the city.
According to Parcl Labs, which analyzed 300 U.S. housing markets to identify high-growth areas with substantial new construction exposure, Austin is among the top five American cities with the biggest growth in the rate of single-family housing stock since 2019 at 6.87 percent.
The list also included Boise City, Idaho (9.51 percent); Lakeland, Florida (8.30 percent); Raleigh, North Carolina (7.80 percent); Jacksonville, Florida (7.17 percent). At the national level, new construction has grown by a much more modest 1.9 percent since 2019, before the pandemic started.
The problem now is that demand for new homes in Austin has plunged significantly compared to the levels recorded in the booming years of the pandemic. While new construction accounted for 40 percent of sales in early 2021, according to Parcl Labs, in June, they accounted for only 9.7 percent—below the national average.
This steep decline has outpaced the drop in new listings: as of June, 21.6 percent of homes listed for sale in Austin were new builds. According to Parcl Labs, this indicates a “demand cooldown” in the Texas capital. By comparison, the U.S. average for new builds is about 10 percent of listings.
Brandon Bell/Getty Images
Prices for new builds have also dropped in the city. Parcl Labs experts believe that Austin is facing “a reality check” as the market is seeing an average price cut of 7.23 percent on new builds, “with some properties slashed by up to 31.33 percent, indicating very motivated sellers.”
According to Parcl Labs, Southeast Austin, in particular, has emerged as a hotspot for price reductions. ZIP codes 78747 and 78744 see average cuts of 21.41 percent and 16.98 percent, respectively. The east and northeast areas of the city—ZIP codes 78725 and 78653—are also reporting price cuts exceeding 11 percent.
“This pattern suggests that newer, rapidly developed areas on the outskirts of Austin are facing the most intense price pressures,” Parcl Labs experts wrote.
Newsweek previously reported about entire new neighborhoods being abandoned mid-construction or right after construction by developers as the Austin housing market flipped in favor of buyers.
According to Redfin’s latest data, the median sale price of a home in Austin was $562,750 in June, down 6.2 percent from a year earlier. That same month, 776 homes were sold, down from 1,016 last year.
For Parcl Labs researchers, Austin’s story “is beginning to serve as a cautionary tale for other booming markets. It demonstrates how quickly the tide can turn in the new construction sector, and how even the hottest markets can quickly face the cold reality of oversupply and waning demand.”
Austin, TX
Highly pathogenic virus found in herd of Texas dairy cows
AUSTIN, Texas – State and federal agriculture officials said highly pathogenic avian flu has been found in a herd of dairy cows in Texas.
What we know:
Officials said the H5N1 virus was confirmed with laboratory tests in late May after cows at an unspecified farm became sick and milk production dropped. The dairy has since been quarantined and an investigation is underway.
This is the first case of avian flu in a Texas dairy herd this year, officials said.
What they’re saying:
“The U.S. Food and Drug Administration (FDA) is confident that pasteurization is effective at inactivating H5N1, and that the commercial, pasteurized milk supply is safe,” officials at the Texas Animal Health Commission said in a statement.
A dairy cow is seen at a farm on June 1, 2026. (Tim Evans/Bloomberg / Getty Images)
Dig deeper:
H5N1 has a high rate of severe disease and death in animals that become infected.
According to the Centers for Disease Control and Prevention, the risk to the general public from avian flu is low. Some sporadic human infections have been reported around the world since 1997. There have been no known cases of person-to-person spreading of avian flu.
The Source: Information in this story came from the Texas Animal Health Commission, the USDA, the FDA and the CDC.
Austin, TX
New Texas law tightens rules for autonomous vehicle companies, including Waymo
AUSTIN, Texas — Self-driving cars have become a common sight on Austin streets, but a new Texas law is adding tougher requirements for the companies behind the wheelless vehicles.
Senate Bill 2807 imposes stricter rules on autonomous vehicle companies operating in the state, including state authorization, emergency response plans for law enforcement, and a public portal where residents can verify operators and file safety complaints.
The changes come as Austin continues to track incidents involving autonomous vehicles. The city’s autonomous vehicle dashboard shows 75 incidents in 2026, including a collision, eight near misses, and seven incidents of ignoring police direction.
Attorney Drew Gibbs, a partner at Slingshot Law, said one crash involved a Waymo vehicle.
“There was a T-bone collision. A pretty serious T-bone collision where a Waymo just crashed into the side of my client’s vehicle,” Gibbs said.
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One of the incidents of ignoring police direction happened during the mass shooting on West Sixth Street back in March, when three people died, and 15 others were injured.
Austin Police Association President Michael Bullock said autonomous vehicles can struggle in unusual situations.
“It didn’t impede on anything in the moment, but it’s not necessarily uncommon where these vehicles don’t quite know how to deal with these one-off scenarios,” Bullock said.
The new law requires autonomous vehicle companies to be authorized by the state, to provide an emergency response plan for law enforcement, and to participate in a public-facing portal that allows the public to verify operators and submit safety complaints.
Kara Kockelman, a professor of transportation and engineering at the University of Texas at Austin, welcomed the added oversight.
“I’m glad that the state is taking this a bit more seriously now,” she said. “It’s important not to just let others slip in without kind of meeting those basic minimums.”
Bullock said the emergency planning requirement may not make a major difference in fast-moving situations. Asked how impactful it is to have a fully laid out emergency response plan, Bullock said, “These plans are great, but it takes time to work through all of those versus the immediacy of having someone behind the wheel.”
The four autonomous vehicle companies operating in Austin — Waymo, Zoox, AV-Ride, and Tesla — are all state-authorized.
The Texas DMV said an autonomous vehicle company can lose its authorization to operate in Texas if the agency deems the vehicles are operating in a way that endangers public safety.
Waymo was contacted for comment, but had not responded.
Austin, TX
Jane Nelson, Texas’ top election official, stepping down as Secretary of State
AUSTIN, Texas – Texas Secretary of State Jane Nelson said Tuesday she will leave the post next month.
What we know:
In a statement, Nelson said her resignation will be effective July 17 but did not provide a reason for the departure.
“It has been an honor to serve the people of Texas in this role,” Nelson said. “My time as Secretary came at an important moment for Texas, and I am proud of what we have been able to accomplish as an agency in under four years.”
Nelson has served in the role since 2023.
Among other things, the Secretary of State oversees elections and business filings in the state and serves as the chief diplomat of Texas.
View of Texas State Senator Jane Nelson, during the 80th Texas Legislature, on the floor of the Senate at the Texas State Capitol, Austin, Texas, January 22, 2007. (John Anderson/The Austin Chronicle / Getty Images)
What they’re saying:
Texas Gov. Greg Abbott described Nelson as extraordinary.
“I am deeply grateful for her long and loyal service and outstanding leadership. She has represented our state with grace and honor across the globe, and Texas is better because of it,” Abbott said. “Cecilia and I wish her all the best in the next chapter of her distinguished career.”
Dig deeper:
According to the Secretary of State’s office, Nelson has presided over seven statewide elections during her tenure with a cumulative 27 million ballots cast and broke a record with more than 3 million active business filers.
Nelson also served three decades in the Texas Senate, where she remains the longest-serving Republican in state history.
The Source: Information in this story came from the Texas Secretary of State’s office.
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