Austin single-family home sales were up in January by 10% over January a year ago.  The median price declined by 7% and I’m not thrilled by that, but the number of homes sold looked great.

Even more interesting is that there is just over a 4 month supply of homes on the market last month.  This number was the lowest our area has seen since January of 2009.

What does this mean?  I’ve been saying this for a couple of years, but the supply of new homes in the Austin area is very low as builders are reluctant to build many specs.  As inventory continues to drop and demand picks up as we move into spring and summer, Austin should see an increase in home prices.

Interested in Austin Texas homes?  Call me at 512-293-24222.