Market Update: December 2008 Numbers
January’s numbers will be out soon and I suspect we’ll see some exciting figures in late March when we see February’s numbers. We are seeing a higher number of pendings this month, which will be reflected soon as homes sold (assuming they closed).
For now, here is a market update to finish out 2008′s home sale totals. These charts should help illustrate that the times we are currently seeing are more like the tech crash followed by 9/11 in 2001. A mere 5 years later, we saw prices and movement like Austin has never seen before. So if things do begin to rebound this year, will 2015 be the next strong seller’s market cycle? No one is predicting past 2011 at this point, and only time will tell for sure. These numbers should not stop you from buying, they do represent a buyer’s market, which we rarely see in Austin. And I’m going to back the experts on this one, I don’t think this buyer’s market will hang around much longer.
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