OK, here is a bit of a double negative: There is a definite trend of increasing inventory decreasing for the last 4 months on Austin's west side. In Steiner Ranch there is a definite trend of decreasing sales increasing for the past 3 months. We knew that new home inventory would be slowing, but did not anticipate the resale inventory to start an improving trend. Mostly, we did not anticipate that the negative sales trend would be turning around now. If the trend continues we may see improvements over last year by year's end. If that does happen, hang on.
Markets tend to move in directions when people are not prepared. There is definitely a positive trend occurring. That does not mean that we are now in a good market; but, it does mean that the market is not increasing its slide downward. Unless we see some outside influence, I predict that this trend will continue at least through the election. The big outside influence has been oil prices, and it appears that there is now enough pressure for improvement that we will see a continued slide in prices to the election. What our government does after that is a question, but there is enough pressure to a point where we are seeing a panic for alternative fuel sources we have, really, never seen.
For details on the report, click on the link below (in excel format).
Click HERE for the River North Real Estate Market Report
Tim Moncrief
Co-Owner
Keller Williams Realty
576-7344 (Cell) 623-6123 (E-Fax)
Personally serving Buyers and Sellers since 1982
#1 Real Estate Group (KW NWMC 2007 Volume)
Top 4 in Austin in '07 (Austin Business Journal, Large Team)
Top 12 All Stars in America (Professional Builder Magazine)
Luxury Home Marketing Institute (Million Dollar Guild)
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