Nov 27
Austin/Central Texas Home Sales Down in October
Austin Market Update
November 27th, 2007 11:22 AM
Recently released from the Austin Board the update below is telling data about the Austin residential market slump that has gripped us for the last 3 months. The credit crunch, holidays, uncertain interest rates, and questionable consumer confidence have all played a role in slowing sales. While the 15% decrease may seem like a big hit, it’s important to remember that 2005 and 2006 were stellar years for real estate in Austin. We saw fast sales, steady increases in values, and a generally national trend bucking economy here in Austin. An interesting thing to note in the press release below is that while sales have slowed, median price has continued to rise. As an Austin homeowner, you can’t complain about that.