September sales numbers & statistics are in for Austin housing and it’s official, our back-log of inventory is shaking out.  We now have fewer months of inventory (calculated based on how long it is predicted to take to sell all of the homes currently for sale in Austin) than we had in 2003 after the tech-bust and are closing in on the momentum from 2007.

See updated Austin Housing Statistics Here
Choose: Housing Data – Months of Inventory
(This post & chart are dated 5th Nov, 2009)

Lower M.O.I. figures show a seller's market, higher show a buyer's market. Current levels represent a neutral market.

To put this in perspective, I’d like to share a chart from another Realtor in Tucson, Arizona.  This should help show how stable our market here in Austin is compared to other parts of the country.  From The House Chick in Tuscon:

Tucson, for example, has seen fluxuations from 6.1 to 16.6 months of inventory in the past two years while Austin has remained between 4.5 to 7.4 in the same time period.