The long-sizzling Austin housing market is starting to show signs of cooling off.
For the second consecutive month, home sales in the Austin area dropped in August, the Austin Board of Realtors said Thursday. The sales decline shows that the area’s rising home prices have started affecting affordability and slowing sales for many buyers, local real estate expert said.
Last month, 2,835 homes changed hands in the Austin metro area, a 4 percent decline from August 2013, the board said. The median price for those sales, however, was up nearly 11 percent year-over-year, rising to $247,500.