Austin Housing - Hot, Hot, Hot

The Austin housing market is still sizzling! According to the Austin Board of Realtors (ABOR), the housing slump affecting the rest of the country is not having an impact on Austin.

In September home sales reached 2,300 for the month. This is a 3% increase from the previous year and a new record for the month of September.

Active single-family listings reached 8,203 which are 5% higher from 2005. There was inversely a drop in the average time that it takes a house to sell. In September, the average time a house was on the market was 58 days; this is a 15% drop from previous months. This is the shortest amount of time single-family listings have waited to sell since September 2001, when the average was 46 days, according to ABOR.

Remarkably, the housing market in Austin and in much of Texas has not had its proverbial "bubble" popped. Regardless of the seemingly negative news regarding the housing market, Austin's has remained robust. With the increase in employment and continuing strength in the commercial sector, this trend is likely to continue into 2007.

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