The latest Case-Shiller index housing valuations were released today, and home prices for the 20-city index rose for the 6th straight month for November. The index value was up 0.2% for November, to a value of 145.49. Demand has increased dramatically, largely in part to tax incentives for first-time home-buyers and the new amendments to the tax credit for prior owners.
The baseline of the index is a value of 100 for all cities according to their respective prices in January, 2000. The highest point measured on the index was 189.93 for Q2 2006.
Austin and the Case-Shiller Index
Demand in Austin has risen over the last few months. There has been a dramatic increase in Austin homes sales in the first-time homebuyer valuations, while homes in the upper price ranges have lagged behind, until recently. Homes in several affluent neighborhoods, such as Zilker in South Austin, have had recent sales of some of their higher-end homes.
We at Team Ensor have been very busy with homebuyers in Austin over the last few months, and we expect it to continue throughout the spring as the countdown continues toward the housing tax credit expiration.
Source: Yahoo Finance