Home Sales Rise in Austin
The Austin housing market showed a marked increase for the month of June when the sale of existing homes climbed 9 percent. According to the Austin Board of Realtors, 2,145 single-family homes were sold in central Texas during the month of June.
Existing home sales rose, but the median price of homes remained unchanged at $205,000. When comparing sales with the same period of time last year we have to take into account that it was the end of the deadline to close on homes that were purchased with the federal home buyer’s tax credit. Judith Bundschuh, chairman of the Austin Board of Realtors, had this to say in regards to the increase seen, “While this month still felt the lingering effect of last year’s homebuyer tax credits, we are now able to return to a typical month-to-month comparison to gauge the trends in the real estate market.”
On average homes for sale in the Austin area are spending a total of 75 days on the market. This amount of time is about 7 percent longer than it was a year ago. Not only were existing home sales up but so were pending home sales for the second month in a row. Pending home sales were up 31 percent compared to the same time period a year ago.
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