The Carvajal Group Blog

Austin Home Sales Drop 40 Percent

December 29th, 2008

In the midst of a difficult recession, the Austin housing market is struggling. Home sales dropped 40 percent, with only 990 single-family home sales during the month of November. According to a report from the Austin Board of Realtors, this is a significant drop from November 2007.

From January-November of this year, home sales went down 20 percent compared with January-November of 2007. Also, the median home price fell to $180,000, down three percent from November 2007.

Even though home sales have experienced a downturn, market analysts expect them to recover because Texas and Austin are experiencing job growth and low unemployment rates. The recent federal bailout will also help capital flow more freely, which will in turn help the housing market flourish.

If you are interested in buying or selling a home in Austin, contact an Austin Real Estate agent with the Carvajal Group at 512-419-7770.

Tags: Austin Real Estate · Austin Real Estate Agent · Buying homes in Austin