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Austin’s troubled housing market gets more bad news

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Austin’s troubled housing market gets more bad news


Home prices in the former pandemic boomtown of Austin, Texas, dropped by -0.1 percent from May to June, according to the latest data from Zillow compiled by journalist Lance Lambert.

“In early June, I said the Austin metro is poised for some more home price declines in the second half of 2024,” Lambert, who writes for ResiClub, posted on X. “The tell-tale sign was the weak month-over-month print from April to May—historically one of the strongest reporting months of the year.”

After a drop of -0.6 percent between December 2023 and January, home prices had modestly been rising in the Texas capital. Between January and February, they increased by 0.3 percent; in both March and April they grew by 1.1 percent month-over-month. From April to May, they increased by only 0.2 percent.

More From Newsweek Vault: How to Calculate How Much House You Can Afford

While the June home price decrease is a far cry from the steep drops of summer and winter of 2022, when prices plunged by as much as -3.0 percent, it’s a clear sign that Austin’s housing market is still navigating troubled waters.

In an aerial view, the downtown skyline is seen on March 19, 2024 in Austin, Texas. Home prices in Austin have fallen between May and June, as inventory grows in the city.

Brandon Bell/Getty Images

When the pandemic hit, Austin had been the fastest growing large metropolitan area in the country in more than a decade, according to data from the U.S. Census Bureau. During the COVID-19 health emergency, the city saw a massive influx of people moving from other states into the Texas capital, attracted by more affordable prices, Austin’s great weather and its vibrant culture.

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More From Newsweek Vault: Step-by-Step Guide on How to Qualify for a Mortgage

These people—often remote workers leaving expensive cities like the ones in California’s Bay Area—brought up demand for homes in the city at a time of historically low supply, engaging in cutthroat bidding wars and sending prices to the roof. At its peak in May 2022, the median sale price of a home in Austin had reached $667,000, according to Redfin data, up 16.0 percent from a year earlier.

But after the end of the pandemic boom, many remote workers were forced to return home and leave Austin, while the massive migration of the past couple of years started to decline. As the U.S. housing market was experiencing a modest price correction between late summer 2022 and spring 2023, Austin was witnessing a much more dramatic collapse of its home prices.

“Because prices have been so high, there was a lot of room for prices to fall,” Daryl Fairweather, Redfin chief economist, previously told Newsweek. Between July 2022 and February 2023, home prices fell in Austin for eight consecutive months, by as much as -3.0 percent and as little as -0.9 percent.

After rising for three months between April 2023 and June 2023, home prices in the city started dropping again between July 2023 and January 2024, though the deepest drop was a much more modest -1.5 percent.

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An increase in housing inventory is partly responsible for this further drop in prices. According to a recent analysis of Realtor.com active listings made by ResiClub, housing inventory for sale in Austin reached a new cycle high last month at 10,913 and it’s now 41 percent above pre-pandemic levels.

While the median sale price of homes in Austin remains much higher than the state’s average of $354,800, according to Redfin data, the cost of housing has dropped noticeably since the pandemic. In June, as per Redfin data, the median sale price of a home was $564,000, down -6.0 percent year-over-year.

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Austin, TX

‘Superman!’ Jelani McDonald Proves to Be Crucial Piece to Texas Longhorns Defense

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‘Superman!’ Jelani McDonald Proves to Be Crucial Piece to Texas Longhorns Defense


AUSTIN — Texas defensive back Jelani McDonald made his mark in the Longhorn secondary on Saturday.

McDonald recorded his first career interception, and it was one for the books.

With five minutes left in the first half as Texas led 14-7, Kentucky had possession. The crowd went wild as McDonald dove for the ball to get possession back to the Longhorn offense. Commentators described the play as a “Superman” performance.

McDonald’s teammates also had their takes on the play.

“Superman…I mean everybody knows how athletic Jelani is, we’ve been talking about that all season, and even tied back to last season,” Michael Taaffe said. “He’s so athletic. I’m glad he finally got to show that and for you all to see, because we’ve known that forever.”

McDonald has totaled 22 tackles this season, playing in every conference and two non-conference games.

While he’s not a name on everyone’s mouths, like Quinn Ewers, Isaiah Bond, Taaffe or Kelvin Banks Jr., McDonald proved once and for all his impact on the team. McDonald could very much have a breakout season in 2025, and this play, which recorded Texas’ 16th interception of the season taking the national record, opened up the doors for his campaign.

That pick could even be awarded play of the year.

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“I’ve been just happy to see him grow and get better as a player,” Anthony Hill Jr., who played with McDonald in the Freshman All-American game, said.

“He was playing corners, so I was like ‘Who’s this guy,’ and then one the game, he’s playing linebackers, and at one game he’s playing safety,” Hill said.

McDonald has one more shot to showcase his talent in the regular season as Texas faces Texas A&M next Saturday. But with two years left of eligibility, the sky is the limit.

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Austin, TX

No. 3 Texas ends UK’s bowl chances

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No. 3 Texas ends UK’s bowl chances


AUSTIN, Tx. (WKYT) – The Kentucky Wildcats (4-7, 1-7 SEC) ended their SEC slate with a 31-14 loss on the road against the No. 3 Texas Longhorns (10-1, 6-1 SEC). For the first time in eight seasons, UK will not be bowl eligible.

Junior quarterback Brock Vandagriff started the game for the Cats, going 3-7 for 51 yards, one touchdown and one interception. The staff opted to once against start true freshman Cutter Boley in the second half. The LCA alum wet 10-18 for 160 yards and an interception in the loss.

The Wildcats went 1-2 in the red zone and just 2-12 on third down conversions.

Senior inside linebacker Jamon Dumas-Johnson had a 25-yard fumble return for a touchdown, and also led the defense in tackles with eight.

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Texas junior QB Quinn Ewers went 20-31 for 191 yards and two touchdowns for the Longhorns.

The season concludes next week as Kentucky hosts the Governor’s Cup game against Louisville at Kroger Field. Kick-off is set for noon on the SEC Network.



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Texas’ Quinn Ewers competes against Simone Biles, others in DICK’S Sporting Goods competition

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Texas’ Quinn Ewers competes against Simone Biles, others in DICK’S Sporting Goods competition



Simone Biles, Dak Prescott, Chris Paul and Quinn Ewers are decorating DICK’S store in their hometowns of Houston, Dallas, San Antonio and Austin.

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DICK’S Sporting Goods is joining in on the holiday cheer — along with a dose of competition among Texas cities, featuring some of the Lone Star State’s best athletes.

Simone Biles, Dak Prescott, Chris Paul and Quinn Ewers will be competing, just not on any athletic field. They are each responsible for decorating a DICK’S Sporting Goods store in their hometown, competing for the title of DICK’S Holiday Decorating Officer and a trophy.

The athletes have begun decorating at stores in Houston, Dallas, San Antonio and Austin. Videos by DICK’S Sporting Goods offer a sneak peek of each as the athletes add their own flair to spread holiday cheer.

The competition comes as part of DICK’S Sporting Goods and DICK’S Sporting Goods Foundation’s program Sports Matter, which funds and maintains youth sports programs across the nation. The four athletes will each get a $100,000 Sports Matter grant, to be awarded to a local youth sports organization(s) of their choosing.

“We’ve had a blast getting ready for the holidays with Texas’ most inspiring and entertaining sports icons,” said Kari DeGori, VP Local Marketing and Marketing Capabilities at DICK’S Sporting Goods. “These in-store displays are interactive, fun, a great place for photos, and each has its own tie of sport into the holiday – whether it’s a gingerbread locker room, a chimney basketball game, or a vintage farm basketball hoop. We hope that these displays add some extra joy for our customers while they shop for everyone on their list. And we’re thrilled to be able to partner with our Foundation’s Sports Matter program to extend the holiday cheer to deserving local sports organizations.”

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“I love competing, so taking part in this Texas holiday contest with some of the best athletes across sports was a lot of fun,” said Chris Paul. “We are all trying to win and become DICK’S Holiday Decorating Officer, but no matter what, we all win as we have the opportunity to give back to youth sports. Thank you to DICK’S for awarding a $100,000 Sports Matter grant to the Chris Paul Family Foundation.”

This campaign will run across DICKS.com, YouTube, streaming, and social media, as well as broadcast on local TV, radio, and other audio platforms in Dallas, Houston, San Antonio, and Austin.

Quinn Ewers decorates Austin DICK’S store

Texas Longhorns quarterback Quinn Ewers is responsible for decorating the Austin DICK’S store on 183A Toll Road. A promotion video captures Ewers placing a giant cowboy hat on a snowman and standing amid a Longhorn-themed tailgate scene while on a video call with actor Matthew McConaughey.

Chris ‘CP3’ Paul decorates San Antonio DICK’S store

Over in San Antonio, Spurs point guard Chris “CP3” Paul is busy decorating the DICK’S store on Northwest Loop 410. CP3 can be seen carefully placing basketballs into a Christmas tree and building a holiday barn-themed basketball court, casually making backward swishes throughout a promotional video.

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Simone Biles decorates Houston DICK’S store

World-famous gymnast and gold Olympic medalist Simone Biles has been tasked with decorating the Houston DICK’S store on the Gulf Freeway. In a promotional video, Biles stands in front of goat decorations wearing Olympic medals and a “GO FOR GOLD” sign display. Other notable decorations include a balance beam decked with stockings, a medal podium, and a photo op featuring “five golden rings.”

Dak Prescott decorates Dallas DICK’S store

Dallas Cowboys quarterback Dak Prescott is in charge of decorating the Dallas DICK’S store on University Drive. A promotional video depicts Prescott designing a gingerbread-themed locker room and a tunnel featuring holiday lights, speaking in front of snowmen decked in football gear.

MAP: Where are the DICK’S stores involved in the holiday decoration competition?

Locations of the DICK’S stores being decorated include the following:

  • Dallas: 2845 W University Dr., Denton, TX 76201
  • Houston: 18650 Gulf Freeway, Friendswood, TX 77546
  • San Antonio: 321 Northwest Loop 410, Suite 112, San Antonio, TX 78216
  • Austin: 5001 183A Toll Road, Suite N100, Cedar Park, TX 78613



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