Austin Area Home Sales Highest in a Year
According to the Austin Board of Realtors, last month, June ‘09, Austin’s home sales were at their highest level in a year.
April’s sales in ‘09 were down 18% from April ‘08. May ‘09 sales were down 19% from May ‘08. But June had a 4% decrease from ‘08, the smallest decrease since the 2% drop in June ‘o8 from June ‘07.
Also in June, Pending Sales (sales set to close in July) were up 4%.
Reasons for the upturn include
- $8,000 tax credit (for homes closed on before December 1)
- Population increase – numbers of people moving from other cities or states
- People looking for lower risk investment opportunities (Real Estate is historically considered a strong investment choice)
- Builders have been building fewer new homes, affecting the balance of supply and demand, and putting more demand on resales.
Tags: 8000 tax credit, austin home sales, highest, june 2009, low risk investments, new homes, resale, statistics
This entry was posted on Tuesday, July 21st, 2009 at 7:11 am and is filed under Non-Waterfront Land. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
