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Austin real estate market update 2008

By January 14, 2009real estate

The Austin real estate market experienced changes during 2008.  For the most part, there was a significant decrease in the number of homes sold in Austin, however, prices for single-family homes actually increased by under 1%.  With a large government presence and a fairly diversified corporate mix in Austin, the unemployment rate has stayed low relative to the State of Texas and the US.  As a result of the strong job situation, fewer residents have been forced to sell their homes and therefore many have chosen to remove their homes from the Austin market rather than sell at prices that they don’t want.  Barring any unforseen catastrophy causing mass layoffs, durring 2009 Austin should be fairly flat in terms of sales prices and sales volume will probably stay about the same as 2008, but only time will tell.  Click on the following links for some excellent professional insight on the 2008 Austin real estate market update and 2008 Austin Texas real estate statistics.