Austin Texas Named Fastest Growing Large Metro Area in the U.S.
This past week brought yet another national article promoting Austin, Texas as a city with a vibrant and growing economy.
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.
This is exciting news for all of us in the Austin real estate market. Clearly, Austin is poised for another boom of sorts over the next several years. Speaking as one who has been selling homes in this area for over 11 years, I can only say that many of the current media coverage reminds me of how things felt just before Austin's market had a hot streak in the late 1990's. Back then, I remember my business partner made the remark that one "only had to have enough strength to get the sign into the yard to sell a home."
While I would still categorize the market as a buyer's market, it does seem to be shifting more in favor of sellers locally. If a home is priced correctly and in good shape, it will sell very briskly in Austin.
Business 2.0 Magazine ranked Austin as #4 a few months ago 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.
So, I am certainly happy to be selling in this market, and I look forward to what the next few years hold.
If you are considering relocating to Austin or finding an investment property here, I would love the opportunity to be of assistance. You can reach me anytime via phone at 512-796-7653 or email at email@example.com. Feel free to contact me with any questions. You can also visit my. other website at www.austintexashomes.com. I look forward to hearing from you soon!