Economy
3:30 pm
Mon July 2, 2012

Austin Area Home Prices Keep Rising

Home prices have again increased in the Austin-Round Rock-San Marcos area.

Prices rose 5.7 percent since last May, and 2.3 percent since last month, according to a home prices index released by a real estate data company.

Amand Nallathambi is the president of CoreLogic, the company that released the report.  "The recent upward trend in U.S. home prices is an encouraging signal that we may be seeing a bottoming of the housing down cycle," he says in a press release. "Tighter inventory is contributing to broad, but modest, price gains nationwide and more significant gains in the harder-hit markets, like Phoenix."

The announcement comes after Austin reached 12 months of increasing home sales.

This month, Texas was 17th nationwide in house appreciation.  It’s the fourth month in a row home prices have increased.