Connect with us

Austin, TX

Austin’s housing market is in trouble

Published

on

Austin’s housing market is in trouble


After having pulled through a dramatic home price correction over the past couple of years, the former pandemic boomtown of Austin, Texas, is now navigating even more troubled waters, as buyers scared off by brewing economic uncertainty are failing to show up for the city’s growing housing supply.

“Our market here was showing signs of price stabilization after unprecedented declines, as buyers re-entered the market after the 3 percent interest rate ‘hangover’ finally wore off at the beginning of the year,” Scott Turner, founder of Austin-based Riverside Homes, told Newsweek.

“But the economic uncertainty caused by tariffs and the risk of recession definitely affected their mentality, making them more cautious and leaving housing inventory levels at nearly an all-time high.”

The downtown skyline on April 11, 2023, in Austin, Texas.

Brandon Bell/Getty Images

Why It Matters

Between February 2020 and May 2022, the median sale price of a home in Austin jumped by more than 60 percent, according to Redfin data, reaching a peak of $659,500. The increase was mainly a result of the massive influx of out-of-state newcomers sparked by the rise of remote work, which allowed many Americans to relocate to more affordable, more livable cities and turn their back on expensive metropolises.

Advertisement

But the Austin housing market, which had become one of the most overheated in the country, experienced a significant slowdown after the pandemic, with return-to-office orders affecting the number of people relocating to the Texas capital. With a few notable exceptions, home prices have been consistently falling in the city, year-over-year, since late 2022.

The City’s Boom And Bust

“The story of the Austin housing market is basically the same as the national story, just a bit more dramatic,” Austin-based Joel Berner, senior economist at Realtor.com, told Newsweek.

“Following the peak of the pandemic, there was a major run-up in home prices amid record-low mortgage rates as buyers rushed to snatch up homes.”

Eldon Rude, a longtime housing market analyst based in Austin, told Newsweek: “Texas was one of several Sun Belt states that experienced significant in-migration between 2020 and 2022, which resulted in an imbalance in demand over supply for homes.

“Such strong demand, coupled with extremely low mortgage interest rates, resulted in significant increases in home prices in all of the major metropolitan areas in the state.”

Advertisement

The median listing price in the city jumped from $369,745 in April 2020 to $625,000 in April 2022, an uptick of 69 percent in just two years. At the same time, inventory plummeted, though it quickly recovered to pre-pandemic levels by 2023.

“Since then, inventory has continued to grow year-over-year, and March 2025 had more active for-sale listings in Austin than any March in our data history,” which dates to March 2017, Berner said.

But buyers are not exactly jumping on the chance of buying a home, even with more options available on the market.

“Just because home prices are coming down and there are more listings, doesn’t mean that prices are affordable. So there’s still a supply problem in cities like Austin,” Turner said. “I think only 25 percent of Austinites can afford to purchase a home at the median home price.”

Rude said: “With interest rates now higher than they were prior to COVID, coupled with a slower economy and less in-migration into the state, there are now fewer buyers in the market, and what buyers there are face affordability challenges given elevated home prices as well as higher mortgage payments.”

Advertisement

Berner said: “The supply growth has softened prices, and the median listing price in March 2025 was $510,000, down 7.2 percent from March 2024. It has been a slow year, with 12 consecutive months of prices falling year-over-year. The correction has come for Austin sooner and more significantly than the national housing market.”

According to Turner, home prices are now stabilizing after “an unprecedented drop.”

Despite a gloomy outlook for the city’s housing market’s short-term future, Turner said Austin’s economy remains robust.

“Our real estate market is returning to a ‘new normal’ in terms of supply and demand,” he said.

That is—as long as the Trump administration’s tariffs do not massively disrupt the city’s market even further.

Advertisement

“Austin’s economy outside of real estate is fairly diversified and still strong, but neither Austin nor Texas are immune to the impacts of a recession or tariffs, in the case of home building,” he said.

“It will take time for our market to work through this inventory, but despite Austin’s growth, much of this inventory remains unattainable for most Austinites, particularly with rates where they are, making matters worse.”

The Ripple Effect Of Trump’s Tariffs

Turner said that existing homes currently for sale on the Austin market are not going to be impacted much by the tariffs, but these are still influencing buyer behavior, making them “more cautious.”

For new home construction, on the other hand, “the impact of tariffs cannot be overstated,” Turner said. “Significant cost increases, particularly in Texas, where we are more reliant on imported building supplies, combined with falling prices would be devastating, not just to Austin’s market, but nationwide. If it gets worse, homebuilding could be the first major industry hit by ‘stagflation,’”

It is not only tariffs that are causing concerns among homebuilders in the U.S. and Austin—but uncertainty over whether the president would stick to these tariffs or change his mind.

Advertisement

“As homebuilders, we can’t easily adjust our business to such sudden changes,” Turner said. “We are getting notices from suppliers every week regarding price increases.”

Berner said that the direct effect of tariffs on the Austin housing market has not yet been felt, “but as an area with strong new construction activity, the tariffs on Canadian lumber especially will work to drive up the cost of newly built homes in the Austin metro.”

In recent years, the economist explained, builders in Austin have excelled at delivering affordable new inventory to the city’s market, and the median price of a new home in Austin is currently lower than the price of existing homes. That is due primarily to where the new inventory is being built, Berner specified, in outlying areas of the metropolitan area.

“This will be jeopardized by tariffs, as builders will be forced to pass on additional costs to new home buyers,” Berner said. “What we will see even sooner is the indirect effect of the tariffs on consumer confidence, dampening demand for home purchases and leading to another slow year of home sales in Austin.

“Unless mortgage rates drop significantly, we anticipate that depressed homebuyer sentiment will lead to continued price depreciation and low volume of home sales in Austin.”

Advertisement



Source link

Austin, TX

3 Keys For Texas Baseball To Advance Out Of Austin Regional

Published

on

3 Keys For Texas Baseball To Advance Out Of Austin Regional


The road to Omaha starts now for the No. 6 national seed Texas Longhorns. For the 39th time in the program’s storied history, the Longhorns will host the NCAA Regional with the opportunity to host a super regional if they can get out of a talent grouping. 

This year’s Austin Regional is paired up with the Eugene Regional, hosted by the No. 11 Oregon Ducks. Last season, Texas had its best season since 2010 in its first year in the Southeastern Conference, but everything came crashing down when the Longhorns lost twice to the UTSA Roadrunners. 

While last year’s result served as a lesson for the returners, most of the 2026 squad was either at other places or in high school, marking a new beginning for many. 

Advertisement

“It’s always the most fun time of year, and certainly when you need the opportunity to play at home,” head coach Jim Schlossnagle said. “Welcome to Holy Cross, Tarleton State, and UCSB. Looking forward to great three or four days of baseball.”

Advertisement

Here are some keys for the Longhorns to make it out of the regional round of the NCAA Tournament for the first time since 2023. 

1 – Aiden Robbins Must Produce 

Advertisement

Texas junior outfielder Aiden Robbins chants after hitting a double in the fifth inning against Mississippi State on May 2, 2026, at UFCU Disch-Falk Field in Austin, Texas. | Noah McCord, The Reflector

At one point in the season, Texas junior outfielder Aiden Robbins was one of the most dangerous hitters in the nation. For a hitter who has never batted under .300 dating back to high school, he maintained his production in a much more competitive SEC slate. 

But in the final couple of games in the season, Robbins has not been the same imposing bat that won him the SEC Newcomer of the Year honors. Dating back to the Tennessee series, Robbins has gone 4-for-21 at the plate while striking out nine times. 

The Longhorns’ top-of-the-order bat is also riding a three-game hitless streak heading into postseason play. 

Advertisement

Robbins is battling back from a stomach bug that took him out early in the second game of the Missouri series and the entirety of the regular season finale. 

Advertisement

If Texas wants to get out of its regional, its best bat for the entirety of the season must get back to his original form. A possible tuneup game against Holy Cross may be the switch to get him back. If not, he’ll have to move down in the order to allow catcher Carson Tinney and SEC Freshman of the Year, Anthony Pack Jr., to be the brunt of the offensive load. 

2 – Texas Can’t Get Into The Loser’s Bracket

Advertisement

The Longhorns celebrate following a victory at the Bruce Bolt College Classic | Texas Athletics

Playing two games in one day is almost a death sentence for any team with hopes of making it out of the regional. 

Texas learned this the hard way: after beating Houston Christian in the first game of last season’s regional, the Longhorns fell in the second game to UTSA, forcing them to battle in the losers’ bracket with Kansas State. 

Despite beating Kansas State on Sunday, Texas only had around an hour’s break before the regional final game, and a rematch with UTSA, ultimately in the regional defining loss. 

Advertisement

“The biggest thing we learned is that everything up to this point just doesn’t, doesn’t matter. It’s all out the window – it’s a new season,” Luke Harrison said. “We’ve got to find a way to get better as a team and play better than we have all year.”

Advertisement

Texas is rolling out Harrison for game one against Holy Cross, saving Dylan Volantis for a big-time game on Saturday for either a rematch with Tarleton State or against a talented UC-Santa Brarba team. 

While Texas does have the arms to win out of the losers’ bracket, it’s a task that will cause more pressure on the entire team. 

Advertisement

3 – Starters and Bullpen Must Play Their A-Game 

Sophomore pitcher Dylan Volantis and junior catcher Carson Tinney walk to the Texas dugout against the Mississippi State Bulldogs on May 1, 2026, at UFCU Disch-Falk Field in Austin, Texas. | Noah McCord, The Reflector

It has been well documented that the bullpen has seen its fair share of woes this season, and one of the keys to beating Texas is to retire the starter early to force them to tap into the bullpen early. 

The starting trio of Harrison, Dylan Volantis and Ruger Riojas must eat up as many innings as possible, something they’ve done for the most part the entire season. Then it’s up to the bullpen to not allow the opposition to gain momentum down the stretch. 

Advertisement

For Schlossnagle, there will not be much experimentation in the regional, and the arms that have proven their worth will get the nod. 

Advertisement

“The guys who have pitched the best all season, they’re going to pitch the most,” Schlossnagle said. “If that means a reliever who maybe hasn’t pitched before the seventh inning has to come in a different part of the game, that’s what’s going to happen.” 

While the SEC Tournament was disappointing on the hitting front, Texas was able to get looks from multiple pitchers in different parts of the game. Freshman pitchers, Sam Cozart and Brett Crossland, will be primary options while Thomas Burns and Haiden Leffew cannot struggle in the late-inning situations 

Sign up to our free newsletter and follow us on Facebook, X and Instagram for the latest news.

Add us as a preferred source on Google





Source link

Advertisement
Continue Reading

Austin, TX

Texas Education Agency rejects Austin ISD’s plan for failing schools

Published

on

Texas Education Agency rejects Austin ISD’s plan for failing schools


The Texas Education Agency rejected a partnership proposed by the Austin Independent School District to buy the district more time to avoid a state takeover. In a letter sent to Superintendent Matias Segura on Thursday, the TEA denied the district’s request to hand over three middle schools to an outside provider to run them under what is known as an 1882 agreement.

In March, the district proposed partnering with the Texas Council for International Studies to run Burnet, Dobie and Webb middle schools as charter schools. The three campuses have received four consecutive unacceptable grades from the state’s accountability system. A fifth failing grade could trigger a total takeover of the entire district, with the TEA replacing the school board with a board of managers.

The letter sent to Segura explains the operating partner must comply with three criteria: have at least three years of experience before taking over a campus; have managed multiple campuses for multiple years; and have significantly improved the academic performance of campuses. The TEA says TCIS only meets two of those three criteria, and it “does not qualify as an operating partner with the capacity necessary to successfully turn around campuses.”

The TEA argues TCIS has failed to prove a track record of improving campuses’ academic performance. TCIS has managed 16 campuses in San Antonio ISD, Longview ISD and Edgewood ISD. However, only five out of those campuses had a D or an F rating before being operated by the non-profit.

Advertisement

AISD Superintendent Segura said in a written statement to families on Thursday evening that the district remains confident that TCIS is capable of lifting student outcomes.

“While this response is disappointing, I want to assure you that this is not the end of the process,” Segura said in the statement. “TEA has explicitly invited Austin ISD to submit additional information to support and reinforce our application, and we fully intend to do so.”

If approved, the two-year 1882 agreement would allow the district to pause the accountability clock for these three schools. AISD and TCIS can still continue with the partnership, but if they choose to, the TEA said, Burnet, Dobie and Webb would not get the benefits of the 1882 agreement, including state funding and reprieve from state ratings.

When the partnership was approved during a board meeting in March, Segura said district officials were confident the TEA would approve it because they had talked with TCIS about expectations and had visited their schools. Segura said the district had also received feedback from the TEA about the plan and had adjusted the partnership accordingly.

“When we look at the timeline, we could see on May or June before we get a final approval. But we are not shy about asking questions and making adjustments where appropriate,” he said. “But if the agency does not accept after all of that we would appreciate the opportunity to make the adjustment, which is what we have seen them do.”

Advertisement

KUT reached out to the TEA to ask about when a final decision must be made, and has not heard back.

Ratings for the 2025-2026 school year have not yet been released. But in his message to parents Thursday, Segura said the district is seeing “promising accelerated student growth” across the district. He said district officials will continue advocating for a partnership.





Source link

Advertisement
Continue Reading

Austin, TX

Repeated Theft Attempts Expose Weak Security at Austin Gun Store

Published

on

Repeated Theft Attempts Expose Weak Security at Austin Gun Store


Austin Police Department officers arrested three suspects, all under the age of 18, in connection with a series of shootings, stolen vehicles, and other violent crimes that unfolded across Austin, Texas, and nearby Manor on May 16 and May 17. According to court records obtained by CBS Austin, the suspects allegedly stole a 9mm Glock pistol from Central Texas Gun Works, a high-profile gun store in Austin, hours before carrying out the 12 shootings, which injured four people, struck homes and vehicles, and damaged fire department property.

The store’s owner, Michael Cargill — a well-known gun rights advocate and the plaintiff behind the Supreme Court’s landmark Garland v. Cargill decision that struck down the federal bump stock ban — denies that the pistol stolen from his store was used in the shootings, though police say they recovered 9mm casings from the crime scenes.

Regardless, the theft draws attention to Central Texas Gun Works’ security measures, as Cargill himself admitted that one of the shooting spree suspects had attempted to rob the store multiple times in recent months, as discussed below.

Thefts from Central Texas Gun Works

In public statements following the shootings, Cargill repeatedly blamed local prosecutors for releasing the juvenile suspects after an earlier gun theft from his store in January. But his own comments also reveal security failures that allowed the same suspects who had tried to steal firearms at Central Texas Gun Works multiple times before escaping with one.

Advertisement

According to Cargill, one of the shooting spree suspects had attempted to steal guns from Central Texas Gun Works on four previous occasions, including most recently in January, when he asked to examine a gun and then ran out of the store with it. Cargill said he personally chased the suspect onto a city bus, stopped the bus from leaving, and had the driver lock the doors until police arrived. After cornering the suspect on the crowded bus, Cargill alleges that he told the teen, “If you pull out this gun on the back of this bus, you better think twice about what you’re doing. Because if you do, we will both die on this bus before I let you off this bus.”

Cargill lamented that Texas state law only allows a person to use deadly force against a person stealing a firearm at night, but not during the day.

Despite prior theft attempts, Cargill also acknowledged to reporters that customers are not required to show identification before handling firearms inside the store. Cargill stated that he and his employees only check a person’s ID “once they’re purchasing a firearm.” When answering questions from reporters, Cargill said that if someone asked to look at a gun, they wouldn’t have to show ID — at least “not initially.” In other words, according to Cargill, individuals could walk into the store, request a firearm, and physically handle it before any identity verification occurred.

Even after the same suspect had allegedly targeted the store multiple times, no additional safeguards appeared to be in place to prevent someone from simply grabbing a firearm and fleeing the building. During another interview, Cargill said the suspect walked in “at the perfect time” when Cargill was teaching a class and another employee was “doing something” and “ask[ed] to look at a firearm,” then “boom, dart[ed] out the front door.”

minimal security requirements

The incident highlights broader concerns about gun dealer security practices and the lack of meaningful federal requirements governing how guns are displayed, handled, or secured inside retail gun stores, despite thousands of firearms being lost or stolen from dealers every year. Unlike pharmacies, jewelry stores, dispensaries, or even some electronics retailers — businesses that often employ controlled-entry systems, tethered merchandise, locked displays, or mandatory identification procedures for potential customers — gun dealers face relatively limited federal security requirements despite selling lethal weapons.

Advertisement

For its part, the National Shooting Sports Foundation, the gun industry’s trade association, lobbies against store security requirements, arguing that they are too “costly” and “burdensome” for dealers.

Cargill’s own statements suggest his store relied heavily on reactive measures, such as surveillance cameras and armed pursuit after thefts occurred, rather than preventative barriers designed to stop unauthorized individuals from physically obtaining firearms in the first place. Instead of addressing the security failures that made his gun store an easy target, Cargill argued that the Texas legislature needs to loosen gun laws to allow gun store owners “to use deadly force for theft of a firearm during the daytime. We would have no problem putting them on the escalator and sending them to Jesus.”

Following media reports linking the stolen firearm to Central Texas Gun Works, Cargill also threatened legal action against journalists and local news outlets that reported the gun allegedly used in the shootings came from his store. In a post on X, Cargill wrote that his attorneys were “preparing paperwork to go after every single person and media outlet” that reported the connection, calling the coverage “#Defamation.” The post included an image styled after a movie poster with Cargill standing near his store and the words “OWNER. LEADER. PROTECTOR.”

Cargill’s comments reflect a broader pattern within the firearms industry: When guns are stolen and later used in crimes, responsibility is often placed on prosecutors, courts, or the individuals who pulled the trigger, but far less attention is paid to the security failures that allowed firearms to leave retail stores in the first place.

Advertisement



Source link

Continue Reading
Advertisement

Trending