Austin Real Estate in 2008

So far through August of 2008 Austin real estate has seen home sales volume drop 23% while Austin home sold prices are up 2% for single-family homes within the city limits.  A high withdrawal rate combined with these statistics indicate that many people are able to “stay put” rather than taking a loss on the sale of their home.  This also indicates that people have faith in real estate in Austin.  I recently released statistics on areas of Austin that have seen price declines this year, which can be found at the following link: Austin home prices by zip code.  I’ve also released Austin unemployment August 2008 statistics at: Austin unemployment August 2008.  With all that is going on in our economy, it is reassuring to know that the Austin housing market shows signs of strength compared to the rest of the country.