Continuing its shift into a seller's market, the Austin metro area saw a 25 percent increase in sales of existing homes in May, while the median price rose 10 percent, according to new data from the Austin Board of Realtors.
Local real estate agents say several factors are fueling demand, including job growth, newcomers moving in, rising rents and low mortgage rates.
May was the 12th consecutive month of year-over-year sales increases, and the fourth month in a row that median home prices increased compared with the same month the previous year, the Board of Realtors said.
Read more...Austin-area home sales jump 25 percent in May; median home prices up 10 percent statesman.com
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