As we continue to try to figure out this fickle market in Austin, we know for sure that two things are true: fewer homes are selling than one year ago, and yet prices continue to increase. For example, in Area 6, which includes centrally located and desireable Travis Heights, SoCo, Bouldin Creek and SoLa, volume decreased by nearly $4million for the month of June, but the average price increased from $389,000 to $425,000, which is really quite a jump. Another example, Westlake/Rollingwood’s volume decreased by 51% from a year ago, and yet average prices jumped from $889,113 to $978,941. As many predict that Central Texas is prime for yet another housing boom over the next 3-5 years, we could see this trend continue, until volume & the overall economy catches up. Read the full story here.
Existing homes sales continue to fall . . . as prices rise . . .
Published July 24, 2008 Uncategorized Leave a CommentTags: Austin housing market, credit crunch, housing boom, housing forecast
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