Austin New Resale Listings Continue to Fall

Austin New Resale Listings Continue to Fall
Austin residential properties for sale (listings) dropped 17.6 percent in December compared with the same month in 2008, according to a ZipRealty Inc. report today.

The document that compares listings in 27 U.S. metros found on average the homes for sale sloped 26.3 percent year over year and 4.3 percent between November and December. The final month of last year was the largest month-to-month drop in home listings of 2009.

“Seasonality and the heavy activity by first-time home buyers in October and November, who were rushing to take advantage of the tax credit, impacted housing inventory in December,” ZipRealty President and CEO Patrick Lashinsky said.

Austin reported 6.7 percent fewer homes on the market in December than the previous month, which was more than the change in Houston and Dallas. San Antonio numbers were not available.

Dallas listed 9.1 percent fewer homes on the market year over year and 3.8 percent fewer between November and December. Houston posted 5 percent less from November to December and 11.7 percent less in December than 12 months before.

Source: Austin Business Journal : Wednesday, January 13, 2010, 12:15pm CST