Health in the Housing Market: Austin Area Home Sales Level While National Home Price Index Rises
This summer in Austin saw existing home sales flatten: for the first time in two years, monthly sales were not lower than the same month the year before. July’s median home price was still down 2% from July 2008, meaning there are still deals to be made for the smart buyer, but the signs of the healthy market are still apparent. “The sales volume momentum in Austin continues, now reaching 2008 levels,” says Jay Gohil, chair of the Austin Board of Realtors. “That’s good news, but I think it’s even better news that we’ve achieved that increase while maintaining a steady median home price.”
Elsewhere in the nation, the S&P/Case-Schiller US National Home Price Index reported the first quarterly rise in home prices in three years. The index examines 20 metro areas around the country, and reports that only two (Las Vegas and Detroit) did not show positive home price growth. “For the second month in a row, we’re seeing some positive signs. There are hints of an upward turn from a bottom,” says David Blitzer, chairman of the Index Committee. It’s “a crucial trend that may help stabilize the broader US economy,” AP reports.
Tags: Austin home sales flatten, home prices increase nationally, S&P?Case-Schiller, steady median home price
This entry was posted on Tuesday, September 8th, 2009 at 7:25 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.
