Austin Business Journal reported on June 20th 2006 that Austin's home market is gaining strength. Rather than restating the article, I would rather append the article in here:
"It's showing signs of a possible rebound, but the Austin home market remains sluggish.
Single-family home sales in the metro area totaled 2,154 in May, down 20 percent compared with May 2007, according to data from the Austin Board of Realtors. However, the May figure is the highest number of total sales the area has experienced in eight months.
Austin is not seeing the drastic price drops that many other markets around the country have experienced. The average price for a single-family home stood at $263,151 in May, up 5 percent from a year ago." Read more
I took a peek at June's statistics, though premature, the Austin residential sales in June are struggling. Let's wait until July when the realtors are done entering their sales in the system. I just truly hope that the sales are no worse than -20% compared to last June. Urggh. Already I have seen sloooow amount of showings in my listings though the price reductions, and extra marketing. I just sure hope that ABJ is right in projecting stronger coming months.
