The Carvajal Group Blog

Central Texas Housing Market Stays Relatively Healthy

December 16th, 2008

Despite one of the largest increases in foreclosures in Central Texas, real estate analysts are not too worried about the future of Austin’s real estate market. This year, 9,008 foreclosures were posted in Travis, Hays, Williamson, and Bastrop counties, up about 27 percent from 2007. This may seem like a huge increase, but analysts say that they are not worried and that they believe this could be the worst of it for the Austin area.

This is the case because this increase in foreclosures in Texas has not led to a decrease in home values as it has done in other housing markets across the country. So, relative to other major housing markets, including California and Florida, Texas and Austin have stayed healthy. One analyst believes that the foreclosure market has basically peaked out, although it will take six to nine more months for a visible decrease to be noted.

For help with Austin real estate questions, contact a real estate agent with the Carvajal Group at 512-419-7770.

Tags: Austin condos · Austin Real Estate · Austin Real Estate Agent