Austin Housing Market Still Sizzling!!
The Austin Business Journal reports that austin area home sales for May increased for the second month in a row.
A new record was set for May, single-family home sales (2,679) were up two percent compared with May 2006, according to the latest Austin Multiple Listing Service report.
Last month’s single-family median home price ($183,160) was up five percent from a year ago. Active listings (8,821) also rose, up eight percent from last year. The average days on the market decreased seven percent to just 55 days.
Home prices appreciated more than 10 percent, more than double the national appreciation rate in this year’s first quarter, according to figures from the Office of Federal Housing Enterprise Oversight.
Across Texas, home prices rose nearly seven percent year-over-year.