From today’s Austin Statsman
Supply is shrinking fast, but price increases remain modest.
Wednesday, November 23, 2005
A third consecutive record year for Central Texas home sales is all but ensured after an unusually strong October in which the number of houses changing hands increased by 27 percent year-over-year.
Home sales from January through October are up 19 percent from the first 10 months of last year, while the number of houses on the market declined by 14 percent, according to the Austin Board of Realtors.
But real estate agents say buyers have an unusually big incentive to take action this fall, as mortgage interest rates continue to rise.