New home starts seems to be down, which could be a good thing for those of us with resale listings. I find that my biggest competition for one particular listing is that it is in a newer neighborhood where new homes are still going in. My listing has to compete with brand new builder homes that the builder can slash prices on to get sold. For instance, I just learned of a closing on a new home identical to my listing, with lots of upgrades, that sold for lower than my listing price. My seller's next move was to lower the listing price--who can compete?
Well, here is an article I came across this morning:
2009 Austin home starts projected to be less (Housing, Austin-Round Rock, 1/7/2009) The Austin-area housing market took a big hit last year, and more pain is in store for 2009, according to Eldon Rude, director of the Austin market for the market research firm Metrostudy. Austin-area... (read more)
And good news is that Austin companies created 6200 private sector jobs last year. Here's that story.
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