According to the National Association of Realtors (NAR), home prices have shown signs of stabilizing in the second quarter even when the economy as a whole has seemed to have stalled. Things have been no different here in the Austin area.

The survey conducted by the NAR says this is the first time since the second quarter in 2006 that they have seen a rise in national home values. The overall median US Home value rose to $176,900 in the second quarter of 2010, which is a 1.5 percent increase from last year in the same quarter. The second quarter also saw the end of the home buyer's tax credit which did play a part in this rise.

Overall, homes in the western states have had the biggest increase with a notable 2.6 percent with an average home value of $219,700. The Midwest also noted an increase of 1.4 percent with the median home value being $148,500. The median price of the homes that were sold does not reflect appreciation or depreciation.

The good news is that of all the markets that the NAR surveyed the formerly distressed market of California saw the biggest gain. It appears that maybe the time of deep losses has leveled off. The third quarter will now be dependant on how things progress moving forward now that the home buyer's tax credit has come to an end, and unemployment still remains high in areas across the country. Take a look at Bankrate for more information on how the Austin area fared in the second quarter.

Are you looking to purchase a home or build the home of your dreams? If so, contact the Shane T. White Team. Discover what it is like to work with a team with a real passion for real estate. Contact us today at (512) 515-LAND (5263). We are here for you to help you buy or sell real estate near Austin in the Liberty Hill area, including Leander, Georgetown, Cedar Park, and Bertram.