990 Homes were sold in November 2008, a 40% decrease from November 2007
The median price was $180,000, down 3 percent from 2007
The total dollar volume of home sold was $231,014,520, down 44 percent from last November
Jay Gohil, ABOR chairman observes, "There is no denying the Austin market has begun to slow...However, we still enjoy strong statewide job growth and low unemployment, two factors missing in other, more challenged parts of the country. These sound fundamentals, combined with capital that should flow more freely to homeowners from the recent federal bailout, will put Austin in good stead as the market begins to recover."
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