Are you waiting to see if home prices will drop a little more?
Posted by David Richard on Friday, February 26th, 2010 at 1:03pm.Well in Austin, it looks like they won’t. Buyers, take note: From here on, we all will be able to look back and see the bottom of our housing market. Yes, it has already happened. Whether you are talking about the number of sales or the average price of homes, the bottom was in 2009. The data below is from the Real Estate Center in College Station. I’m a statistics geek, and I prefer the 12-month moving average trend line. It quickly summarizes what the market is doing and removes the confusion seasonal cycles often cause. I would be happy to send you the raw data if you’re curious. These charts only reflect the environment in Austin, TX. All real estate markets are different. One of the biggest mistakes buyers and sellers make is assuming that the national statistics apply to their home or their purchase decision. Although these figures are reported constantly in the media, every market differs from the national numbers – and those differences are often huge. The take-away for this is simple: If you can buy now, it is likely the best time for at least the next five years.
Related Links
Print
ShareBe the first to comment on this blog entry!
