Austin Stats and Some GOOD NEWS!

Good news: Fewer Underwater Mortgages
Fewer people are underwater on their mortgages -- further evidence that the real estate free-fall may be slowing.

Just 21% of all single-family homeowners owe more on their mortgage balances than their homes are worth, according to a third quarter residential real estate report from Zillow.com. That is down from 23% at the end of the second quarter. Why is this great news? Read HERE for further information!

Austin Market Stats: (courtesy of Alamo Title)
The number of active listings are down 11.91% from last year. The number of new listings are down this week by 4.02% (compared to 11/2/08 - 11/8/08).

Pendings are up this week 3.96%.

Sold residential units are up 26.82% compared to the same week last year.

Units for Sale:
Nov. 1 - Nov. 7, 2009
(compared to the same week in 2008)
New listings down this week 4.02%
Pendings are up 3.96%
Solds are up 26.82%

As for Average Prices:
Nov. 1 - Nov. 7, 2009
Sold average sales prices decreased 17.31% to $253,568. In 2008 it was $306,643 for the same week.