Are Austin Home Prices Going to Fall in 2009?

What is happening with home prices in Austin? We’ve seen huge swings in home pricings in the rest of the US, but was there ever a real estate bubble in Austin, Texas?

Courtesy New York Times - Las Vegas Home Prices

A picture paints a thousand words, so if you’re a firm believer in ‘what goes up must come down’, take a look at this neat interactive home price graph in the New York Times. It charts data collected from the Case-Shiller home price index. The index tracks single family home sales in 20 US cities.

Courtesy New York Times - Dallas House Prices

Now real estate is extremely local, so I’m not suggesting that Dallas home price fluctuations are like Austin home price changes. Given that the Texas economy is often considered to be one of the best performing in the US right now, it might be that the trends in Dallas are closer to those in Austin. More so than say Las Vegas.

Dallas has seen modest growth and modest decline in comparison to Las Vegas. There’s no surprise that cities that showed stable growth before 2006 are only seeing mild fluctuations. Check out the graphs and let me know what you think!

To answer the question, Austin home prices may continue to fall slightly, though personally I’m not expecting anything as severe as falls in Las Vegas!

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