Austin's housing market red hot

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by KVUE News

kvue.com

Posted on March 31, 2013 at 5:53 PM

Updated Sunday, Mar 31 at 6:01 PM

AUSTIN -- Austin's housing market is breaking real estate records as people are moving here from all over the country.

In the Briarwood neighborhood KVUE found two homes for sale side by side. This is very unusual, as real estate agents say they have more people looking to buy homes than inventory.

Sellers are told it is a good time to list. However, one homeowner KVUE spoke with says since the market is so hot, it's difficult to find a contractor.

"This is not a bubble, this is not a bubble! the greater Austin chamber of commerce has done an incredible job of bringing companies here, employees to area, and that is only going to make it more in demand for the houses that are already on the ground," said Cathy Coneway with the Austin Board of REALTORS.

Coneway says some areas of Austin are so hot, some homes are getting eight to ten offers on the first day they are on the market.

Overall, homes are on the market an average of 71 days. That is 15 days fewer than this time last year.

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