The National Perception is WRONG…Austin Texas is still red hot!
February 2nd, 2009 Categories: Austin Area News and Events
Hello Readers,
The Blogster here with some great information on our local real estate market. I am so tired of turning on the television and hearing the doom and gloom. Things are looking great here in the Austin area and we are seeing a lot of activity lately!
Here are just a few great facts about our current real estate market…
- Month-of-supply of new homes in Austin is a healthy 5.3 months, vs. an average of 115 months nationally.
- Austin leads the country (all Metro Study Areas) in home appreciation, at 5.5% in 3Q 2008.
- Interest rates are at their lowest in 30 years. Its important for home buyers to understand how powerful a factor interest rates are in terms of their buying power. For example, at 5.2% on a conventional loan (10% down, $60K household income), borrowers have the buying power for a $224K home. At 6.5%, buying power drops to about $180K.
- Texas remains #1 in job growth, although job creation will decline in 2009. We need news ways of marketing and selling homes, other than via relocations.
Looking for more information on Austin and the surrounding area’s current market conditions?
Please feel free to call Jeremy K. Frost ~ REALTOR & Real Estate Blogster
512-636-2746 of [email protected]
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