Team Price > MLS Search > Market Statistics > June 2011

Published July 14, 2011 / Team Price Real Estate

You may have noticed some "noise" lately about where the market is heading. Some accounts are optimistic while others, well, aren't. The good news is that local data provides a more reliable tone than national sound bites can offer. When it comes to hearing the market's true message, it may not necessarily be from the expected indicators, it may not be heard evenly across all segments and it may arrive in disjointed bursts. Let's listen.

Buyers in the Austin region absorbed homes more quickly as Months Supply of Inventory was down 8.7 percent to 7.0 months. New Listings decreased 9.3 percent to 3,442. Pending Sales were up 41.9 percent to 2,359. Inventory levels shrank 19.8 percent to 11,500 units, but even choosy buyers can still find top notch homes.

Prices were more or less stable. The Median Sales Price increased 1.0 percent to $200,000. Days on Market increased 7.5 percent to 72 days. Affordability also improved.

June 2011 Detailed Market Report

On the national front, the interest rate dropped to 4.79 percent on a 30-year fixed conventional and 4.44 percent for FHA. The unemployment rate has been stable around 9.0 percent and initial unemployment claims have continued to fall. Wages and payroll jobs are also improving slowly. Debt ceiling negotiations and other background noises persist, while prolonged job growth is still the missing verse in the recovery song.

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