Austin Home Prices Stay on the Rise
Home prices in the Austin-area continue to increase, according to a new report out today from real estate-analytics firm CoreLogic.
The study says home prices in the Austin-Round Rock-San Marcos area went up by almost six percent in May compared to May 2011. It was about the same increase for April, too. Eldon Rude with another real estate tracking firm, MetroStudy, says the number of homes for sale is shrinking.
“In the resale, the MLS numbers show inventory of about 4 and a half months, which is very tight,” Rude says. “So you combine that with a very tight inventory level for the new home builders and prices will continue to go up.”
The six percent increase in Austin-area home prices compares to a national increase of just two percent in May.