That's right, Austin Texas home sales in November experienced the largest single year increase in more than 10 years.  Approximately 58% MORE homes sold in November, 2009 than in Nov, 2008.  Following a huge October increase, Austin's real estate market continued to improve in what is considered the worst quarter of the year for home sales.

First time home buyers led the surge, as much of the increase was due to Austin and Round Rock home buyers taking advantage of the tax credit.  We expect to see strong home sales in Austin and Round Rock for the next several months while the tax credit is still in place.

Real estate markets across the U.S. felt the positive surge as well, as home sales nationally increased 7.4%.

A very positive statistic nationwide and in the Austin real estate market is the the of homes on the market.  Traditionally, the fewer homes for sale, the stronger the market and the mor likely home prices will increase.  Austin saw a 7.4% decrease in the number of homes for sale and the U.S. actually experienced a 1.3% decrease.

This statistic is more important than you may realize, as it reflects the supply/demand in the market.  Less supply, more demand, lead to stronger home prices. 

Austin homes did see a slight decrease in median prices as well, but it was negligible and was more than likely due to the fact that so many first time home buyers were purchasing homes.

IMPORTANT NOTE - Austin's decrease in the number of homes for sale resulted in this - an inventory of homes for sale of 5.7 months - taking Austin BELOW the "Normal Market" Consensus of 6.5 months of inventory!

Austin homes sales are better, the number of Austin homes for sale is better, interest rates are awesome, Uncle Sam is giving the gift of a lifetime... THINK "BUY A HOME NOW".  There literally may never be a better time!