Statesman.com reports that the sales of existing homes in Central Texas were down 6% in 2009, suppossedly a 6 year low of 19,005 units. Towards the end of the year, there was an improvement in s ales volume due to the tax credit which originally was to expire November 2009. But since then, the government has extended and expanded the tax credit to repeat buyers as long as the house they are purchasing is in contract by April 30th of 2010.
In addition to the tax credit, low mortgate interest rates and many lower home prices have helped our sales in 2009.
The article concludes that Austin is seeling recovery and that the housing market will see moderate gains in both sales and prices in 2010.
To read the complete article, please select this link.
