Austin's sizzling hot housing marketAustin's sizzling hot housing markethttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=89422012-11-27T11:08:00Z2012-11-27T00:00:00Z

AUSTIN - The housing market posted another strong month in October, with home sales soaring 37 percent — the highest year-over-year percentage gain in three years, according to the Austin Board of Realtors (ABOR).

ABOR reported that 1,960 homes were sold in October 2012 compared with 1,427 in October 2011. It was the biggest year-over-year percentage increase since November 2009.

The median home price also was up, rising to $199,320 — 5 percent higher than in October 2011. The market had a 3.4-month supply of homes for sale in October 2012, the lowest inventory figure seen in the Austin area in the past decade.

Active listings were down 20 percent from October 2011, while pending sales were up 19 percent, pointing to another month of healthy sales for November. Homes spent an average of 68 days on the market, 15 fewer than October 2011.

Read more at the Austin American-Statesman.

Austin American-Statesman
Austin-Round Rock
http://www.statesman.com/news/business/austin-area-home-sales-median-climb-in-octoberarea/ntbc9/Read more at {Source}

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