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Austin Unemployment Rate February 2009 and Austin Real Estate Market Update

published on March 27, 2009

I’m pleased to announce that the Austin unemployment rate (Austin-Round Rock) slightly decreased from 6.4% in January 2009 to 6.3% in February 2009 with 3,200 more people employed in Austin-Round Rock in February 2009 than the previous month.  In comparison, during the same time period the State of Texas unemployment rate decreased from 6.8% in January 2009 to 6.6% in February 2009.  The United States unemployment rate increased from 8.5% in January 2009 to 8.9% in February 2009. 
Between January 1st and March 26th of 2009 there were 1,193 single-family homes sold within the Austin city limits with a median sold price of $113.52 per square foot ($222,390) and averaging 79 days on the market.  During the same time period in 2008 there were 1,690 homes sold (29% more than 2009) with a median sold price of $117.51 per square foot ($225,000), which is a 3.4% reduction in the median sold price compared to 2008, and averaging 65 days on the market. 
As mentioned in the Austin American-Statesman article found at, the article starts by saying, “Rates on 30-year mortgages fell this week to the lowest level on record after the Federal Reserve launched a new effort to assist the staggering U.S. housing market.” Bank rates for a 30 year fixed mortgage remain very low at 5.03% as of 3/27/09 according to With mortgage rates at all time lows and with the $8000 tax credit for first-time homebuyers now in place, and there are plenty of reasons to buy an Austin home during 2009
Click here to conduct an Austin home search.  Contact Brian Talley at 512-554-9714 if you need help buying or selling an Austin home or if you have a need for Austin Texas office space.
Source: Raw real estate data provided by the Austin Board of REALTORS® and interpreted by Austin REALTOR® Brian Talley of Regent Property Group.  Unemployment data provided by the Texas Workforce Commission.  Although the above information is deemed reliable, it is not guaranteed to be reliable or accurate.  The information contained herein is subject to errors and/or omissions and are not in any way guaranteed as accurate or reliable by Brian Talley or by Regent Property Group LLC.

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