Austin Home Sales Lower in May

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Austin home sales dropped slightly last month according to statistics from the Austin Board of Realtors (ABoR), Community Impact reports.  

2,767 homes sold in May, down 2%, which ABoR blames on the record-setting rise in housing prices in the Austin-area.  Home values usually go up 4 percent annually, but in Austin, they've increased 9 percent since a year ago.

Austin Board of Realtors estimates that just 25% of all homes going on the market in the #Austin area are under $200,000.  The median price for single-family homes is $271,000 and the average price is $348,201.  This makes the majority of single-family homes out of reach of the buying power of most homebuyers.  It also makes it impossible for builders to construct homes in the area that are under that magic $200k mark.

Ready to find a new #apartment that's within your budget?  Call Apartment Experts South today at 512-416-8100 to take advantage of our expert knowledge of the Austin rental market.

Posted in Austin, Rent Smart

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