Austin recorded increased number of foreclosed property auctions for sale in August 2010. The increase came after foreclosure rates declined by over 20% in July compared with a year ago.
Travis County was ranked third in the whole state of Texas in terms of median residential homes prices. Area residences averaged close to $195,000 during a five-year period examined by the U.S. Census Bureau.
In some areas of Austin, Texas, properties under repossessed home listings have declined, while commercial listings have expanded. Several counties, including Hays, Williamson and Travis, suffer from increased number of commercial foreclosures.
The impact of foreclosure house crisis is not as bad in Texas as in other states as evident in the strong financial foundation of the area and the relatively steady condition of its job market.
Austin bank owned homes surged in number in the first 3 months of 2010, but they have not hindered the city from attaining its growth goals. Austin is among the best performing cities, according to several economists.
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