Last month, at the peak of the national economic crisis (so far), Austin home sales dropped 39% from last November, dropping from 1,805 units in 2007 to 1,086 today. During the same one year period, the median sales price fell 2.9% from $185,200 to $179,900.In looking at this data, it’s the sales volume that is the big news -- much more so than the small price drop. From a volume perspective, last month was the weakest November in 11 years. The number of transactions was roughly half the number 2-years ago during . . .
