Are Austin Homes Sales Falling? Today in the ABJ …
Originally uploaded by thenelsonproject
Headlines do not tell the whole story. Today’s headline in the Austin Business Journal: Austin home sales still falling
Compared with 2007, January 2008 number of properties sold is down 10% but prices were up 7%.
“Some consumers may be attempting to market-time their purchase, which temporarily delays property transactions,” says ABoR Chairman Socar Chatmon-Thomas. “Even so, the Austin real estate market continues to outpace most others nationwide.”
Most market analyses I am doing right now (most recent in Travis Heights, 78704 and south Austin, 10N) have shown this trend of few closings so far in 2008 but a bunch of pendings. This means that market activity is picking up and at a fairly good clip … especially in the trendy areas and/or moderately-priced but still not the suburbs. As I always say, the coolest homes that are priced right have not, do not and are not staying on the market for long. I have had 3 multiple offer situations in the past two weeks. Headlines do not tell the whole story.