Forbes has been compiling data since the real estate debacle of modern times begun a few years ago.  Their most recent study is of several metro areas with relatively low unemployment rates from 2007-2009. Their reason: to determine which major US cities are poised to not only survive, but recover the fastest from the housing recession.  The results:  Austin has tied Washington DC for the #1 spot on the list of cities that seem to be surviving the recession. 

In this two-year time frame, the number of jobs in Austin rose by .98% with the job-growth expectancy of 8.09% growth over the next three years.

As for housing, other states in the country saw a run-up in home prices that led to a “bubble burst” effect that Texas did not have.  There was not an excessive overbuilding in Texas, so the demand sustained.  Texas also did not have a statistically-significant amount of ARM mortgages, although we did have a fair share of Alt-A mortgages.

As a professional in the real estate business, I firmly believe that Forbes is right on target.  I have seen the demand of Austin real estate for residential buyers dramatically increase, and I have also experienced a similar increase in areas surrounding Austin like Bastrop

We truly believe that now is the best time to buy a new Austin home.  We think that interest rates are only going to go higher, and that even if the tax credits get extended, that the overall cost-to-purchase makes now THE time to buy and become a homeowner.  If you’re curious about what’s out there, we have a great site to use if you’re interested in checking out Austin homes for sale. 

All that being said: what do you, the buying and selling public, think about Austin and the recession?



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