Where in the country can you still find rising home prices -- at nearly an 8 percent annual rate? Try Austin, Texas, which has been ranked number two in the nation by Business Week for lowest days on market stats.

Local real estate expert David Raesz reports that the market of Austin has shifted -- with sold properties down 23 percent from last year. He says, "How this impacts you is more of your community market and how well you stage and price your home."

Market expert Mike Cusimano reports that "current statistics taken from MLS show that listings have been on the market an average of 103 days; 48% of the listings have dropped their prices and the listing inventory has continued to increase. Though recent changes in lending requirements have slowed sales down, Austin still remains solid. Austin is becoming more and more like other large metropolitan cities with all of the amenities. Although Austin continues to grow at a fast pace, it still maintains its roots, which is why Austin is so popular."

Published: October 13, 2008

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