Here is some very encouraging news from the Austin American Statesman today about existing home sales in Austin in July.  Despite another national decline of 3.5% from July of 2010, Austin again bucked national trends with 32% increase in sales from the same time last year. 

Even more encouraging for sellers is a 20% drop in inventory from last year at this time.  Austin has also shown remarkable price stability, which speaks to a very healthy real estate market that is neither depressed, nor speculative.

Area economists and others, quoted in the article, point to continued population and job growth, low interest rates, stable prices, and healthy inventory as indicators of a long-term, strong, sustainable real estate market in Central Texas.

Today's news is on the heels of a recent article published by Forbes - calling A-Town at number 1 for the next Boom Town.