| Yup, its true folks! Austin is not buying that woebegone | | | | same time last year. |
| story that everyone else is reading. The latest reports | | | | Perhaps wisely, the newly-built home sector has been |
| show that the "Live Music Capital of the World" is | | | | kept to a minimum and this has avoided an |
| proving that it still rates as a residential retreat and a | | | | over-supply of homes. Consequently new homes are |
| bustling business center. | | | | a smaller percentage of the Austin housing market. |
| However, Austin is also ranked the #1 for Business | | | | In fact, four fifths of the listed properties for sale are |
| among U.S. cities and the employment statistics can | | | | re-sale homes. In spite of a slow down in sales which |
| attest to that. Austin area job growth is holding steady | | | | is normal for this time of the year, realty prices in the |
| with unemployment figures remaining at an all time low | | | | Central Texas area have continued to rise. |
| of 3%. | | | | Interest rates remain low and to some extent, the |
| Austin has a lot to offer as a residential choice, but it | | | | recent changes in national lending requirements may |
| also has a lot to offer in the business market, and with | | | | have slowed things down, but Austin is still a sellers |
| many new businesses moving in, the local economy is | | | | market. Some homes are still selling within days and still |
| remaining strong. | | | | some homes receive multiple offers. |
| Austin has been selected out of nearly 400 U.S. cities | | | | According to a study published by the First American |
| by Moody's Economy and is rated #1 for the | | | | Loan Performance, Austin prices are up by 8.6%; the |
| economic vitality index. Both commercial building and | | | | average sale price is up from 2006 comparisons. The |
| infrastructure construction continue at a rapid pace. | | | | sold average sale price has increased compared to |
| The local economy is remaining strong and last week | | | | 2006 and the new listings average price is up by 5%. |
| analysts in the Austin American Statesman reminded | | | | This is all good news for any businesses that are |
| residents that the housing market differs dramatically in | | | | planning their move to Austin, and it is also good news |
| various parts of the country, and that all real estate is | | | | for real estate investors. There may not be many |
| local. The local real estate in Austin is holding steady | | | | safe markets in the real estate world, but in the face |
| and active listings are showing an increase over the | | | | of adversity Austin is still holding its head up high! |