Austin home sales up 26 percent in FebruaryAustin home sales up 26 percent in Februaryhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=78832013-03-22T12:02:00Z2013-03-22T00:00:00Z

AUSTIN - Central Texas’ surging housing market posted another strong month in February, with home sales up 26 percent over the same month last year and the median home price rising 7 percent, according to the Austin Board of Realtors.

The board said 1,626 homes were sold in February, outpacing the 1,286 sales recorded in February 2012. The area’s median home price was $208,500 compared with $195,000 a year ago February.

It was the 21st consecutive month of year-over-year sales increases for the area. The region’s job and population growth, low mortgage rates and rising apartment rents are continuing to propel housing demand.

Listings were down 25 percent from February 2012, and pending sales were up 15 percent. On average, homes spent 71 days on the market last month, 15 fewer than the prior February.

Overall, the market is down to a 2.6-month supply of homes for sale, 1.6 months less than in February 2012. The inventory level is at its lowest point in the past 12 years. The market has 3,500 fewer homes on the market than in 2011.

Read more at the Austin American-Statesman.

Austin American-Statesman
Austin-Round Rock
http://www.statesman.com/news/business/austin-area-home-sales-up-26-in-february/nwykc/Read more at {Source}

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