These reports from Texas show the housing bubble is 'relocating.' "Austin homes continued to sell at a brisk pace in May, despite a cooling of the housing market on a national level. Sales of existing single-family homes jumped 15 percent in May as 2,260 residences changed hands. The median home price rose 8 percent from a year ago to $174,000."

"The strengthening housing market is a result of Austin's healthy job market as well as the cooling of home prices in other areas, said John Rosshirt, chairman of the Austin Board of Realtors. 'You have not just the good economy, (but) you have people who are getting out of other markets,' Rosshirt said."

"Central Texas is also becoming popular among out-of-state investors and those looking to relocate from elsewhere, area real estate agents say. 'Somebody living in California in a 1,400-square-foot home could sell it, take the profit and buy a mansion in Austin,' Rosshirt said."

"'Now that those other major markets are cooling down and slowing down some people are saying, 'Hey, I made $300,000 on my house the last couple of years, and I can buy this in Austin?' said Rosshirt."

"And that means no rest for the weary realtors. 'I'm hoping the trend continues certainly for both buyers and sellers,' Real estate agent Julie Woche said."

"The closer to the center of town, the hotter home sales. But as those prices rise, the Austin Board of Realtors says activity is pushed to outlying areas including Round Rock, Buda and beyond."

"With more than 17 condo and apartment projects planned for the downtown area, Austin continues to add up changes to the Capitol City skyline. Many of the new additions will be high-rise buildings."

"There are currently 2,972 downtown condo and apartment units capable of housing about 5,400 residents. The projected number of units for 2009 will jump to 6,618."

"Construction on a 360 condo tower has recently begun. It promises to deliver 432 units and stand 580 feet, taller than any building in Austin."

From My San Antonio. "A San Antonio developer will break ground soon on the Medical Center area's first new condo project in about 20 years. The units are selling now for $138,000 to $267,000. Once they're finished next spring, prices are expected to jump to $167,000 to $289,000."

"Real estate agent Diane Motz said she expects the new property to attract doctors and medical professionals. Already, she has sold 20 units to a Phoenix investor and 10 to an investor from Greece."

"Motz noted the development's high-end trappings such as granite countertops, stainless steel appliances, wood floors and whirlpool baths. 'There are other things out there, but not at this level,' she said. 'People want something that's an investment, and you can't really find that there.'"