The average rate on a 30-year fixed mortgage has fallen again, dropping to a record-breaking 3.49 percent for the first time in the past 60 years. The average rate on a 15-year fixed mortgage also declined, dipping to 2.80 percent – well below last week’s previous record of 2.83 percent.
In Austin, the premier Austin luxury home experts at Regent Property Group released a July 2012 Austin, Texas real estate market report that relays continual good trends in a sizzling Austin housing market.
Data for Austin, compared to June 2011:
- a third less homes for sale
- a 12% increase in the number of single-family homes sold
- a 7% increase in the average sale price
- 25% more homes pending sale
- It is taking a third less time to sell
“Homes are selling quickly, but buyers still can find their dream homes with the help of a qualified Austin REALTOR®, sometimes even before a home is listed publicly,” said Regent Property Group Founder Brian Talley.
What’s the overall picture on the U.S. housing market? Builders are more confident and are putting up more houses than they have in nearly four years.
Interested in taking advantage of record mortgage rates for a luxury condo or lakefront home in Austin, Texas? The Austin REALTORS® at Regent Property Group help home-buyers stay on top of the latest in Central Texas trends, from Tarrytown to Circle C. Visit Austin homes for sale to learn more!