Austin real estate market 2008

The 2008 Austin real estate market was tumultuous, but it wasn't devastating as one has seen in other parts of the country.  While the number of homes sold was down 23%, prices for single-family homes were actually up by $.82 per square foot for the year.  So what does this mean?  Low unemployment in Austin has kept a large number of residents from being forced to sell their home.  As a result, many homeowners have chosen not to sell rather than take less than what they want to earn from the sale of their property.  If unemployment can stay relatively low during 2009 then I believe that prices will most likely be flat or reduce just slightly with the number of homes sold staying flat or increasing slightly, but only time will tell.  For a much more detailed account of the 2008 Austin real estate market, visit the following links including Austin real estate market update 2008 and Austin Texas real estate statistics 2008.

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