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Austin, Texas-Area Home Market Shows 3 Percent Sales Increase in November.
Byline: Shonda Novak
Dec. 22--The Central Texas housing market held steady in November as sales of existing homes rose 3 percent compared with November 2002.
The latest figures from the Austin Board of Realtors also showed the area is whittling down its large supply of homes on the market. There were 8,923 houses for sale in November, down from a record high of 10,100 in May. However, the November supply still was up 7 percent from November 2002.
The glut of homes on the market has turned the market in buyers' favor during the past two years, causing some sellers to reduce prices and houses to sit on the market longer -- an average of 69 days ...
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Source: HighBeam Research, Austin, Texas-Area Home Market Shows 3 Percent Sales Increase in...