Austin's housing market rebounds, according to July 2009 figures

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) September 23, 2009 -- Austin, Texas ( ) September 24, 2009 – REAL ESTATE FIGURES FOR JULY 2009 ARE COMPARABLE TO THOSE OF JULY 2008, INDICATING STABILIZATION OF THE AUSTIN, TEXAS HOUSING MARKET.

REAL ESTATE STATISTICS JUST RELEASED FOR JULY 2009 SHOW A REBOUND IN AUSTIN HOME SALES, WITH 2,069 HOMES SOLD. THIS IS COMPARABLE TO THE 2,068 HOMES SOLD IN JULY OF LAST YEAR, MARKING A 61 PERCENT IMPROVEMENT OVER JANUARY 2009 AND ONLY A TWO PERCENT REDUCTION IN OVERALL HOME PRICES FROM LAST YEAR. EXPERTS IN THE AUSTIN REAL ESTATE MARKET BELIEVE THIS INDICATES A RECOVERY IN THE HOUSING INDUSTRY, LONG BELEAGUERED BY THE SAME CONCERNS THAT HAVE PLAGUED THE NATIONAL REAL ESTATE SCENE. AUSTIN BOARD OF REALTORS CHAIRMAN JAY GOHIL COMMENTED, “THE SALES VOLUME MOMENTUM IN AUSTIN CONTINUES, NOW REACHING 2008 LEVELS. THAT’S GOOD NEWS, BUT I THINK IT’S EVEN BETTER NEWS THAT WE’VE ACHIEVED THAT INCREASE WHILE MAINTAINING A STEADY MEDIAN HOME PRICE.” JOE CLINE OF AFFINITY PROPERTIES AGREED, ADDING, “AUSTIN’S HOUSING MARKET IS ON THE UPSWING AGAIN, SO BUYERS WILL WANT TO TAKE ADVANTAGE OF LOWER PRICES AND INTEREST RATES WHILE THEY LAST.”

PRIOR TO 2007, PROPERTY VALUES AND SALES IN AUSTIN HAD INCREASED STEADILY. AUSTIN’S VIBRANT CULTURE AND ENVIRONMENTALLY FRIENDLY REPUTATION ATTRACTED NEW RESIDENTS, CREATING CONSTANT GROWTH IN EMPLOYMENT AND HOUSING FOR THE AREA. THE DOWNTURN IN LATE 2007 PROVOKED CONCERN THAT AUSTIN WAS SUFFERING THE EFFECTS OF THE HOUSING MARKET SLUMP FELT ELSEWHERE IN THE COUNTRY. ADDITIONALLY, NEW HOME CONSTRUCTION DECLINED IN 2007 AND AGAIN IN 2008, THOUGH GENERAL DEMAND FOR AUSTIN PROPERTIES REMAINED HIGH.
ABOUT AFFINITY PROPERTIES

FURTHER INFORMATION ON JOE CLINE’S TEAM AND THE AUSTIN REAL ESTATE MARKET IS AVAILABLE AT OUR WEST AUSTIN REAL ESTATE (http://www.joecline.com) SITE OR OUR AUSTIN REAL ESTATE (http://www.affinityproperties.com) SITE, INCLUDING INFORMATIVE BLOGS ON RECENT DEVELOPMENTS IN REAL ESTATE IN AUSTIN AND THE SURROUNDING AREAS AND HELPFUL HINTS WHEN BUYING OR SELLING PROPERTIES. ONCE AGAIN, JOE CLINE AND HIS TEAM OF REALTY PROFESSIONALS ARE PUTTING THE CUSTOMER FIRST BY PROVIDING CUTTING-EDGE SERVICES FOR THE MODERN REAL ESTATE WORLD.

ABOUT RE/MAX INTERNATIONAL, INC.

RE/MAX WAS CO-FOUNDED BY DAVE AND GAIL LINIGER IN 1973. FROM A SINGLE OFFICE IN DENVER, COLORADO, RE/MAX HAS GROWN TO BE A GLOBAL NETWORK OF NEARLY 100,000 SALES ASSOCIATES IN MORE THAN 70 COUNTRIES. NO ONE IN THE WORLD SELLS MORE REAL ESTATE THAN RE/MAX. TODAY, ALL U.S. HOME LISTINGS IN THOUSANDS OF CITIES AND TOWNS CAN BE FOUND AT WWW.REMAX.COM (http://www.remax.com).

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