Its summertime and Austin Texas real estate continues to fare well despite the national economic conditions. While the number of homes sold in the Austin area are down 29% as compared to May 2008, the supply of homes on the market are down as well. As of 6/4/09, there are 3,934 single-family homes actively for sale within the city limits of Austin, Texas.
The Austin unemployment rate has continued to decline. The overall unemployment rate for the Austin area was 6.2% in April 2009 and has lowered to 5.8% over the past month. The Austin unemployment rate remains lower than both Texas and national unemployment rates, which is a comforting indicator of strength for the Austin economy.
For a detailed Austin market update please read my full report on the Regent Property Group website.