Austin, Texas (PRWEB) June 27, 2012
Regent Property Group, the premier realtor for Austin luxury homes, announced that U.S. existing home sales, on a seasonally adjusted basis, have increased for 11 straight months. This indicates a sharp uptick in sales between 2010 and 2012. Austin has seen strengthened sales in both the Austin luxury home market and the median size home market, which includes popular neighborhoods like Travis Country and Belterra. Excluding the increase caused by the government tax credit, this is the first time since late 2005 for the U.S. to experience a similar sustained increase in sales.
Prices are still low in some markets, but as the economy recovers, people interested in home ownership have more money saved to put toward a house, or enough equity to upgrade to a larger house, said Regent Property Group founder Brian Talley. We are still below whats considered a normal range of sales, but considering the sharp drop that occurred between 2007 and 2010, this increase in sales is an excellent sign of things to come, and is especially evident in the Austin market.
Other highlights of Regents report include statistics showing thatApril existing home sales rose 3.4% from March 2012 and were up 10% from April 2011, now at a seasonally adjusted annualized rate of 4.62 million. Further, median home prices, which in Austin is $ 225,000 and encompasses neighborhoods like Sendera, increased 3.1% from March 2012 and 10.1% from April 2011. The 12 month moving average was up 1.1% year-over-year. Home inventory is down 28.4% in the past 12 months, though it rose slightly sequentially from March, and currently rests at 2.54 million units for sale nationally.
For more information about market statistics or the Austin market, an Austin Realtor with Regent Property Group can provide assistance.
About Regent Property Group:
Brian Talley is the founder and owner of Regent Property Group. He is ranked among the top 1% of selling agents out of the 5,313 Austin Board of REALTOR