Realtor Zach Frederick in Austin, Texas reports that the local market has remained relatively free of the chaos that is troubling the rest of the nation.

Austin is an attractive city, says Frederick, with its comfortable climate, thriving music scene and major employers like the University of Texas, Dell and IBM.

Frederick says the Austin region fared well in 2007, with an average increase in sales price of 7.4 percent.

Though the national market felt plenty of upheaval last year, Austin didn't suffer the same massive run-up of prices as other regions.

And while home sales fell in 2007, they still surpass the numbers from 2005, the highest year on record.

Prices should continue to increase, says Frederick, and smart buyers will take advantage of the market's uncertainty to come out on top when demand starts to increase.

Frederick sees several bright spots in the region, especially its low level of unemployment, high average income and wealth of affordable housing.

Published: February 8, 2008

Use of this article without permission is a violation of federal copyright laws.