Number of homes sold down in Austin but prices still high, nothing new

I (Brian Talley) was quoted in today’s Austin American-Statesman article entitled "Homes Sales Fall for 14th Month in a Row".  I was asked about why I believe home sales prices are still high while the number of homes sold is down (home sales volume is at the level it was at the bottom of the market in 2001).  You can read the article and my response by visiting the following link: http://www.statesman.com/business/content/business/stories/realestate/09/19/0919homesales.html.  Whatever the case, the fact that home prices are still high in Austin just goes to show that we live in city that is highly desirable with a fairly stable economy.  Not that Austin hasn’t been hit hard and not that it can’t get worse, but we have weathered the storm well compared to many other places around the country, at least so far.