According to a report released by Metrostudy, Austin home sales continue to rise. With mortgage rates remaining low, the study shows a supportive climate for continual improvement in the Austin housing market.
Eldon Rude, who is the director of Metrostudy’s Austin market, indicated that prospective buyers should expect home prices to continue to rise in the Austin area. At the same time, the city is expected to continue to improve in the areas of housing starts, employment and the Housing Price Index, which is a measurement of residential home prices.
From November 2011 to November 2012, Austin saw a significant increase in new jobs, with approximately 35,000 jobs added to the city. In its study of 40 housing markets throughout the United States, the
Forbes has named Austin the fastest growing city in the country. After analyzing 100 of the largest U.S. metropolitan statistical areas for its list of “America’s 20 Fastest Growing Cities,” Forbes placed Austin at the top of the list for the third year in a row.
In creating its list, Forbes used data from the U.S. Census Bureau and other resources to examine six metrics. These included 2012 population growth, 2013 estimated population growth, job growth, unemployment, Gross Metro Product and the median salary of college-educated workers living in the area. According to Forbes, Austin’s low unemployment, healthy job market and business-friendly regulations all contributed to its number one spot on the list.
David Winans is real estate broker in Dallas, Texas who coined the term "Texaplex" to describe the region encompassing Austin, Dallas, San Antonio, and Houston. David has released a new video highlighting all of the great economic news coming from the Texaplex region.
According to Newsweek magazine, the “Texaplex” of Austin, San Antonio, Dallas and Houston is among the top ten regions in the country in terms of being poised for an economic recovery. This is largely due to the fact that the Texas metros have a strong energy sector as well as a strong entrepreneurial spirit.
In addition to having a strong energy sector, the Newsweek article found that the state of Texas is also an attractive market for those businesses that are looking for a place to relocate. This was largely due to the fact that the state has a “pro-business attitude” as well as a business tax rate that is relatively low when compared to other states. For these reasons and more, Texas now has more Fortune 500 companies than any other state in the
A report recently released by Allied Van Lines found that Texas passed all of the other states in the country when it came to net relocation gains last year. As such, 2010 represents the sixth year in a row that the Lone Star State has been at the top of the list.
According to the data collected by Allied Van Lines, Texas experienced a net total of 1,640 moves between January and November 2010. This figure is derived by calculating the number of people moving into the state and then subtracting the number of people who move out of the state with Allied Van Lines’ services.
Although these figures do represent a drop when compared to 2009, at which time Texas has 2,000 net moves, the state still had a significantly larger net number of moves than its
A recent report issued by BBVA Compass bank has determined that Texas is poised to lead the country to its economic recovery.
There are many reasons why the Lone Star State is in position to lead the country toward recovery, with oil prices being among them. Other reasons include the fact that the state has enjoyed a relatively stable housing market as well as limited fiscal challenges. The state has also continued to add private jobs to its market while its exports, particularly coal and petroleum products, have remained strong. In short, Texas has managed to remain relatively positive while most states have experienced a decline in growth.
According to the report, Texas is likely to enjoy a 2.8 percent growth in its gross domestic product this year.
According to the Federal Housing Finance Agency and the data collected by Moody's Economy.com, home prices in the Austin area should stop falling by the final quarter of this year. Furthermore, according to a Fiserv Inc. report that was released earlier this month, the prices of homes in the Central Texas area are likely to start increasing by the first quarter of 2011 and will likely reach their pre-recession levels by 2016.
Although the analysts predict that home prices will have fallen a total of 4.8% by the time the downward spiral reaches its projected bottom at the end of the year, it has still been a far shorter fall when compared to the national average. In fact, the city did quite well when compared to the 374 markets that were included in the…
According to a Gallup survey that was released in the middle of April, 77% of Americans expect the prices of homes in their area to either remain the same or to go up over the next twelve months. Furthermore, the survey found that 34% of Americans expect the average price of the homes around them to go up over the next year. These figures represent a 12% increase when compared to last year, which is a good sign that consumers are starting to gain more confidence in the residential real estate market. (In April 2009, the Gallup survey found that 63% of Americans believed the housing prices around them would either increase or stay the same.)
According to Gallup, the low interest rates combined with the increase in consumer confidence will likely lead to more…
The Texas Workforce Commission had good news to report to Central Texas residents in the middle of April - the unemployment rate in the area dropped for the second month in a row in March. As such, the unemployment rate is down from 7.3% in February to 7.1% in March.
According to the commission, the Austin-San Marcos-Round Rock area added 4,600 jobs from month to month. Nonetheless, the total number of nonagricultural jobs was down to 760,300 when comparing one year to the next, representing a reduction of 500 positions. Furthermore, in March of 2009, the unemployment rate in Central Texas was lower at 6.6%.
The greatest number of positions were added in the leisure and hospitality industry, which added 2,100 jobs from February to March. Government…
While housing markets around the country took a significant hit as the country struggled through economic troubles, the Austin real estate market has fared much better. Although the Austin housing market did take a dip in sales and in housing prices, the fall has not been as drastic as with most markets throughout the country. In addition, just as economic experts predicted, the Austin housing market has started to rebound before other housing markets around the country.
According to the Austin Board of Realtors, multiple listing service data indicated that home sales increased while also spending less time on the market during the month of February. In fact, a total of 1,145 homes sold within the Austin market, representing a 4% increase when compared to…