Austin Real Estate Guy Blog

Prices have escalated in the Austin market. The 10% appreciation of this year is beyond our norm (~3-4%) and things must revert to be sustainable (or wages must shift equally). Builders are not targeting the historical Texas homebuyer, but have shifted to extract all the $'s they could from migrant buyers or to makeup losses elsewhere in the country.

Keep beating the drum that things are better out there than the media would have you believe.  I just posted this story from the Statesman to my blog.  We need to keep people seeing the positive that is happening in real estate.  

http://www.mallettintegrityteam.com/Austin+is+one+of+most+undervalued+markets+in+the+country

As a homeowner, I am reflexively heartened by any statistic showing price appreciation.  However, as an educated and aware citizen I also understand that the 'turmoil' in the credit markets has reduced the supply of mortgages for mid-range homes.  It's quite possible that this is skewing average prices higher during a period in which Austin's housing inventory is rising.

Jeremiah - Thanks for an intelligent comment.  I think you are correct in that fewer low priced homes have been selling and that will raise the average price.