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Sales of existing homes in Central Texas were down 6 percent in 2009 to a six-year low of 19,005. But the market got a late boost from a federal tax credit for first-time buyers and is poised for a better 2010, said John Horton, chairman of the Austin Board of Realtors.
The year-end totals showed improvement in sales volume and stability in home prices over the course of the year — the median price declined 1 percent during 2009, to $188,480 — and the 6 percent sales decline "was a marked improvement" from the double-digit drops in the first quarter of the year, Horton said.
Sales were up by 5 percent in December, with a median price increase of 6 percent to $194,000.
For the full year, the best-selling price range was homes selling for $130,000 to $169,999, which accounted for 22.3 percent of the total.
The original tax credit expired Nov. 30 but has since been extended and expanded to qualified repeat buyers as long as the house is under contract by the end of April and the closing occurs by June 30.
In addition to the credit, low mortgage interest rates, and in some cases lower prices, along with a healthy supply of homes, helped spur sales in 2009.
For a map and more about this story, see the Austin-American Statesman.
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