Saturday, May 15, 2010
Austin's residential sales are up 21% in April compared to last April. In March, sales were up 23%! In Lake Travis ISD which includes Lakeway, Bee Caves and Spicewood, sales are up a whopping 27% compared to last April. In March, sales were up 19%.
I know for a fact that people wanting the tax credit (first time home buyer and move-up buyers ) are waiting the last minute to buy! I found myself and my buyers in multiple offer situations!
Does this mean that we are experiencing a SHIFT in our market? Check out the graph to the right. The bolded line represents 2010. That would be awesome if the sales just keep going up! Interest rates are still in the 5% range, which is still pretty low.
Don't wait any longer to buy! When the sales get hot, what does this mean to pricing? A-HA!! Now you're thinking.