The Austin American Statesman had an article today about how cool June was for home sales in Austin.  Home sales in June were down 6% compared to June, 2006.  Is that a problem or a sign of things to come?  I don't think so.  June, 2006 saw a increase on home sales 22% compared to June of 2005.  That was a huge spike and June of this year would have had a tough time showing any growth at all. 

On to the but part...  Another article in the business section today talked about how strong the Austin economy is.  A strong economy almost always leads to a strong real estate market.  Our 5-county region had an unemployment rate of 3.5% and we added 29,000 jobs in June, 2007.  Those are great numbers.  Another interesting number to look at is job growth in the construction field, which grew over 9% in June.  Not that this is all residential, but some of it probably is. 

Although it is true that there is too much inventory in some parts of the Austin area and in certain price ranges, the overall real estate market in the Austin area remains strong in my opinion.  If you have a home to sell, pay attention to what the market tells you via comparable homes sold.  If you don't like the numbers one REALTOR® gives you, get a second opinion.