Active Single Family Homes are on the rise

Looking at Austin's August statistics, the number of active single family homes are 12,808 units. This is relatively high considering just about 2 years ago, March 2021, we had a hot market at only under 2,500 active listings.

In retrospect, back in June/July 2010, we had over 14,000 active listings, the highest its been since the last recession. 

Why do you think Austin's inventory is so high? Could it be because our interest rates are currently averaging 7%? Let me know your thoughts.