There’s no denying the sizzling state of the Austin-area housing market these days.
Home prices are rising across the region. Some sellers are getting multiple offers on their homes within just days of putting them on the market. Buyers are engaged in bidding wars, forced to offer above sellers’ asking prices.
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Home pricing roller coaster
A look at the years with the biggest increases and decreases in annual home price rates for Austin and some of the housing markets that were hit with housing bubbles in recent years:
Austin 2006 +9% 2010 -3.7%
Las Vegas 2004 +37% 2008 -37%
Phoenix 2005 +38% 2008 -27%
Orlando 2005 +33% 2008 -26%
Riverside, Calif. 2004 31% 2008 -35%
Texas 2006 6.60% 2010 -2%
U.S. 2004 10.20% 2008 -9.7%
Source: FHFA Quarterly Purchase-Only Index
This story is part of the American-Statesman’s ongoing coverage of the Austin-area housing market. Reporter Shonda Novak has been covering the Central Texas real estate and development market for more than a decade. Recently, she has kept readers informed on the development evolution of East Riverside Drive and the area’s changing apartment market.