Austin has best housing market in U.S.
A note from the Austin Home Pro…
The Austin real estate market has long been the economist’s stronghold on optimism, because our strong local economy centered in an economically strong state continues to beat the “doom and gloom” odds. Despite falling home prices around the nation, Austin has held strong. Due to Austin’s slow and steady growth even during booms elsewhere in the country, Austin has little of a boom to bust. Although national economic feats have affected our local market, the stability of Austin real estate continues to impress top experts around the country.
Ranked the healthiest by online industry magazine
AUSTIN (KXAN) – A homebuilding industry online magazine has ranked Austin the nation’s healthiest housing market. Builder Online cites low unemployment and high demand as reasons why the Austin market is making a comeback.
Home prices in Austin were still going up last year, unlike most of the country, but they have finally started to fall. The latest numbers show home prices down 4.6% in 2009.
“Clearly we’re not as good as we’d like, obviously we’d like for things to be better but still it gives you some feeling of assurance that things aren’t as bad as some people are having,” said Harry Savio with the Greater Austin Homebuilders Association.
Builder Online notes that Austin’s population grew by more than 4% during the first half of this year which created demand and will help to firm up home prices.
“The fundamentals are there for housing to continue to grow,” said Savio. “We don’t have a lot of inventory, we don’t have a lot of excess houses on the ground.”
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