Austin-area single-family home sales were down 21 percent in December 2008, compared with the same month last year, according to the Austin Board of Realtors. Median home prices for the same period declined 4 percent compared with December 2007.
While December sales were lower year-over-year, there are signs of improvement; the drop was roughly half what it was in November, when sales were 40 percent lower than in November 2007. And, while year-end sales for 2008 were 20 percent lower overall than they were in 2007, the median home price increased 2 percent.
Pending sales — deals in the pipeline for the following month — rose 11 percent, the first time they have increased since April 2007.
Source: Austin Statesman, Austin Business Journal