Austin Real Estate Guy Blog

As we finish the first month of 2009, I'm glad that in the last couple of weeks market activity has picked up. Some of my listings that weren't getting showings are now being shown multiple times and some of my buyers that were on the fence about making a purchase have resumed their real estate home search again. The increase in activity may have something to do with it being a new year, perhaps because we have a new administration in place or might be because rates are once again at historic lows. Whatever the reason, I'm glad that Austin isn't suffering like most of the country with their local economies and unemployment rates. As of today, the unemployment rate in Austin was 5.2% as compared to 7% nationwide. Though the local economy is in a slump, and it has affected the local real estate market by increasing number of days on market and slowing appreciation rates, I do think that the market will rebound by this summer. I think that today's home buyer is much more aware and knowledgable about what they can afford, and when they've made a decision to purchase a home, they'll do so at the right time. Just my $.02.