Here we grow again!
The most recent issue of Forbes magazine has named Austin the "Fastest Growing Large Metro Area" in the United States, predicting growth of 32% GMP (Gross Metropolitan Product) over the next five years. Additionally, the article states that Austin's population is expected to increase by nearly 15% by 2012, according to Moody's Economy.com forecasts.
To read the entire Forbe’s article, click here.
We feel this is great news for the Austin real estate market. It appears that Austin is on the verge of another mini boom over the next few years. Some may disagree with that vision, but what can’t be disputed is that Austin no longer flies below the national media. Austin is fast becoming a “The Place to Be”. Our community is seasonally temperate, highly educated, equipped with low unemployment, low cost of living and a very high quality of life. Vibrant and growing. What is not to like!
Our research and data still indicates Austin continues to lean on the side of a buyers market in most neighborhoods, but savvy sellers who prepare and price correctly are seeing brisk activity and multiple offers.
As mentioned in a previous post Business 2.0 Magazine ranked Austin as #4 on its list of the "Hottest Markets for Job Growth" in the country, stating that "Austin is the rare tech hub that still seems poised for double-digit growth, thanks to a vibrant semiconductor sector. Indeed, Samsung is pouring $4 billion into a local chip fab." They estimated that job growth figures for Austin will be approximately 24.7% from 2007-2015.
We love Austin!
Call us and let’s discuss our Austin Real Estate insider views. Are you considering an Austin Relocation? Email us and we will cheerfully mail you are Austin Relocation packet. Great Stuff!
