Bill Morris: Texas

Austin home price spike in December!

An article appeared in the Austin Business Journal earlier this week indicating that Austin-area home values remained soft late last year (Austin home prices still falling).  That was true through November, but there was a significant recovery in average and median prices in December!

More details are available at www.AustinMarketDashboard.com, but explaining this almost 10% month-to-month price increase is more difficult.  A similar change has happened only once in the past twenty years, in December 2001, as the U.S. economy was recovering from the obvious market disruptions that followed the WTC attacks on 9/11.  The market was disrupted again in 2009, with short-term effects resulting primarily from tax incentives for first-time home buyers.  Does that explain last month's price spike?  Time will tell.

I don't know who originally said, "May you live in interesting times," but we certainly have that honor now, don't we?

Bill F. Morris, ABR, CRS, CDPE, e-PRO, MBA
RE/MAX Capital City
Call or Text:       512-785-3345
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bmorris@remax.net
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Comment balloon 0 commentsBill Morris • January 21 2010 08:39PM
Austin home price spike in December!
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