Austin home sales in July dip but demand still high

Windsor Genova – Fourth Estate Cooperative Contributor

Austin, TX, United States (4E) – Sales of homes in Austin, Texas in July were 2.7 percent lower than the same month last year, according to the Austin Board of Realtors (ABOR).

There were 2,944 homes sold in July compared to 3,025 in July 2013, ABOR said. It was the first decrease in home sales since 2011. ABOR, however, is not worried saying the small decrease is not a negative trend.

“The high demand for Austin real estate over the last few years continues to be fueled by strong job and economic growth in the Austin area,” said ABOR president Bill Evans, according to The Statesman. “The issue we’re facing now is not whether Austin-area property values will fall, but whether future housing market growth in the Austin area will be stifled by a lack of affordable housing options for Austin-area homebuyers.”

Evans also said that the total dollar volume for the 2,944 sold homes increased by 4 percent from a year ago to $938.7 million.

KXAN reported that Austin is the hottest real estate market in the country as 40 percent of homes were sold within a week. The national average is 10 days. KXAN attributed the fast home sales to the city’s growth with 110 people moving into the capital city every day on average, according to city demographers.

There is also optimism as the sales dip followed a double-digit surge in home sales in June, a record for the month. That optimism is shared by Rick Orr, the former CEO of the Austin company that developed TabbedOut app, as he founded Real Savvy Inc. in July. The company is connecting home buyers with agents through an improved online property search and home selection process.

Orr touts Real Savvy’s service as giving consumers more intuitive home-search ability.

Online home search is trending as sellers can now produce attractive listing videos that can be viewed on smartphones and social media. Such ability is made possible through web tools like Nestbuilder Agent on Nestbuilder.com.

The Nestbuilder Agent has allowed more than one million real estate agents in the U.S. create their personalized Online Video Channel to market their listings on social media and e-mail.

Nestbuilder.com also provides subscribers with tools to create virtual tours and microsites that can also be syndicated to social media sites.

Real estate digital media and technology company RealBiz Media Group, Inc. (OTCQB: RBIZ) developed Nestbuilder.com and the apps available on the site to boost the business of real estate agents and brokers.

To learn more about Realbiz Media, contact sales@realbizmediagroup.com or call 1.888.REAL.BIZ (888.732.5249).

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