Austin is consistently mentioned as one of the few places in the country where home values in general are expected to continue to appreciate on a rate of 4%. It is true that there is a higher number of homes on the market than the previous year and that days on the market have increased slightly. That being said homes sales numbers continue more forward. The market does lean towards being a buyers market at present, but sellers could expect to break even as they should see a gain on a purchase where they might lose on a sell.
Builders inventory has dropped dramatically as the ones who are still in business have drastically reduced their inventory by attaching significant incentives to buyers to get their inventory reduced.
That translates into good news for existing home sales.
Here is a link to ABOR Stats that shows the reduction in numbers across the board. Remember, we have to put these numbers in context with the rest of the country and our own previous numbers.
https://www.abor.com/news_media/statistics/reports/Nov08_indicators.pdf
While tight times have sent many part Realtors looking for work, those of us who make a living practicing our trade stand firm and move on making the necessary changes to adapt to the environment.
Stay Strong and Keep on Living!
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