Housing Market Sales Continue to Increase
The Central Texas housing market continues to be a strong one, according to numbers out today from the Austin Board of Realtors. May 2012 was the twelfth straight month of sales increases. It was also the fourth consecutive month of price increases.
“That has to do with our shrinking inventory,” says Leonard Guerrero, the board’s chairman. “That gets back to the influx of people into the area – the jobs that have been created in our state and in our local area, Austin in particular, and the number of people that are coming into the state to fill those positions.”
Guerrero says the high occupancy rate of rental properties in the area directly affects the housing numbers.
The number of single family homes sold rose a quarter since this time last year. The median price rose 10 percent.