Shannon Mangin discusses the current state of the Austin housing market in Spring 2024. It highlights that while prices have increased, the market is seeing more inventory and longer days on the market, giving buyers more negotiating power. The video also discusses the impact of interest rates and new construction on the market, and provides strategies for both buyers and sellers to navigate the current conditions.

Highlights
The Austin housing market is seeing more inventory, with around 4 months of supply, and homes taking longer to sell (7580 days on average). This gives buyers more negotiating power, with list prices around 5% off and additional discounts or incentives.

New construction is a significant factor, with about a third of the 10,000+ singlefamily homes on the market being new construction. This is even more prevalent in the suburbs, where over 40% of the homes in Williamson County are new builds.

Interest rates have been a challenge, with rates recently increasing to over 7%. However, the video suggests strategies for buyers to offset the high rates, such as negotiating seller or builder concessions, putting down a larger down payment, or considering new builds with fixed rates below the market value.