February Austin Market Report – lowest inventory in 7 years

February 15, 2012 by · Leave a Comment 

For the last four months the number of homes for sale in the Austin area
has been at a 7 year low. 6414 homes are currently for sale, 20% fewer
than last year and 26% fewer than two years ago.

The number of homes sold in January has remained about the same for
the last four years. The rental occupancy rate in Austin is nearing 97%.

With very few homes for sale and demand remaining steady, prices
should have pressure to move upward. However, our experience is that
increased loan requirements, more stringent appraisal requirements,
higher down payment requirements and the buyers perception that values
have declined are keeping prices steady. However there exists wide
variation in the Austin market. To view the entire 11 page report go to the
Market Report tab at WestAustinMarketplace.com

About Laura

Laura is a third generation native of Austin who grew up in Tarry Town in Central Austin. She is the owner and broker of West Austin Properties and has been selling real estate in the Austin area since 1979. Laura is married to the love of her life, Brad, and they have two grown daughters. Together, they love to explore all of the fun spots Austin has to offer.