Archive Monthly Archives: May 2007

Austin Real Estate Market – Sales Update April 2007

Average and Median Sales Prices are up 6% and 6.6% in April from a year ago. Average price per square foot is up 4% from $126 last April to $131 April 2007. The Austin market keeps chugging along at a happy pace, refusing to overheat but still outperforming most other parts of the country. There […]

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Pulte chips in $500K for new Dripping Springs School

Why would a homebuilder give half a million dollars to the local school district? Because new schools help home sales. Belterra’s new elementary school, “Rooster Springs Elementary”, will open next fall, and it was surely a selling point for the last two homes we sold there. For the Highpoint subdivision in Dripping Springs, being able […]

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Austin Apartment Rental Market Still Going Strong

Apartments somewhat mirror the Austin residential real estate rental market (houses and duplexes), though not always directly. A weak apartment market, such as that which occured in Austin from 2002 through 2005, hurts the rental market for homes and duplexes. Renters who would normally not rent an apartment can’t resist the free rent and other […]

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Austin unemployment reaches 6 year low at 3.2 percent

Austin unemployment is almost too good. When I attended a local economic a couple of months ago, the economist from Angelou Economics warned us about the unemployment rate getting too low. I think it was 3.5% at that time. At the current rate of 3.2%, he told us it can start limiting the ability of […]

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Austin Real Estate Market and News Journalists

The article below is from today’s Austin Statesman. I’m still amazed at the choice of words and phrasing used by newspaper journalists when writing about the Austin real estate market, and how they often focus myopically on “number of sales” when interpreting ups and downs of markets. Let’s look at a few examples. First, the […]

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