Despite economic conditions across the nation, Austin continues to have a relatively low unemployment rate and cost of living index.  There is no doubt that 2009 plagued the nation with significant economic challenges.  As of November, year-to-date sales in the Austin- area were down 7 per-cent in 2009 compared to 2008.  During the first 11 months of 2008, 19,016 homes were sold.  Only 17,629 homes have been sold during the same period in 2009.  The difference equates to 1,387 fewer homes having been sold.  
 

Single-family median home values have remained steady in Austin, fluctuating between $175,000 and $199,000 throughout 2009.  The summer selling months recorded the highest median prices, ranging from $193,000 to $199,000.  As of November, year-to-date median prices for single-family homes are down only one percent when compared to 2008.

While no one can predict the future, most can agree that the forecast for 2010 is hopeful.  Austin and Texas is expected to lead the economic recovery over the next few years. In November Forbes.com released a report featuring America's Fastest-Recovering Cities, where four Texas cities (Austin, San Antonio, Dallas and Houston) were include in the top 10.    The good news for Austin real estate buyers is that positive prospects for 2010 will show increased stability in the economy and housing market in the coming year.  Meanwhile the optimism for the job market and potential stabilizing of home prices appear to be positive signs for the real estate community. 

Now is as good a time as any to buy Austin - Central Texas real estate. Interest rates continue to be low and the number of foreclosures helps keep prices reasonable.