AUSTIN (KXAN) — Monthly home sales in Austin have increased in the past year, while the national numbers are at an 18-month low, according to Realtor groups.
More than 1,400 homes sold last month, a few dozen more than the total in January 2013, according to the Austin Board of Realtors. The average price also went up, from $197,900 a year ago to $211,800 last month.
The current number and price average is a dip from December 2013, when some 2,000 homes sold for a higher price. Home prices in December were also higher at $226,000.
Homes sold in January also spent a little longer on the market. Last month, homes spent 63 days on the market — compared to just 52 in December.
Across the nation, the numbers are more grim.
Sales are down to a level not seen in a year and a half, according to the National Association of Realtors, which says home sales dropped by more than five-percent from December into January.
Snowstorms were partially to blame. Other factors contributing to the decline include mortgage rates and home prices. Higher interest rates price more potential buyers out of the housing market.