The Carvajal Group Blog

Austin Home Prices to Recover

November 15th, 2011

In the past year, Austin home prices fell by 2.3 percent but are expected to recover by the summer of 2012. Although the rise will only be by 0.3 percent, that number is expected to double between the second quarter of 2012 and the second quarter or 2013.

Austin home buyers have been very cautious and aware of the housing market around them which has kept the Austin housing market out of the housing market bubble that many got sucked into. Over the past ten years, the Austin housing market has seen a ratio of median price to median family income staying at a steady 2.6.

There are currently about 870 foreclosed properties here in the Austin area, but compare that to the 5,298 listings in Austin and that number doesn’t seem to be quite as large. These Austin homes are expected to have the price listing drop by the second quarter or 2012 but they are expected to return to a stable number by 2013.

For more information onĀ buying properties in Austin, contact us today at (512) 419-7770.

Tags: Austin homes