Despite lending woes, Austin market remains strong

Posted by Crystal Olenbush on Thursday, October 18th, 2007 at 5:39pm.

The Austin, Texas housing market continues to do well despite the lending woes plaguing the rest of the country.  Our market has only seen modest effects from the fallout in the subprime market.  The buyers that seem to be affected are those with poor credit or limited funds for a down payment.  If you have good credit then there are still many good financing options available to you.

In other areas of the country foreclosures are skyrocketing, but Austin is currently at a seven year low for foreclosure activity.  The local market should remain strong due to the local job growth and the popularity of the city.  In addition to the strong economy, the Austin housing prices are still very reasonable when compared to many parts of the country.   This should continue to attract buyers away from more expensive markets.  (The median home price in Austin is currently $192,200)

Please give us a call if you are considering a home in Austin.  We would love to educate you on the current market and help you find the perfect place!  1-800-790-7910

2 Responses to "Despite lending woes, Austin market remains strong"

Austin mortgage broker wrote: Jim,
I absolutely agree with you about the Austin market. I am in the mortgage business and we have taken a slight hit but all-in-all the market seems to have leveled out. There have been severe mortgage meltdowns in the past few months in surrounding states.

Posted on Saturday, November 10th, 2007 at 8:34pm.

Jim Olenbush wrote: It is those "other states" that get all the media attention!

Posted on Tuesday, November 20th, 2007 at 12:39am.

Leave a Comment