Forbes magazine released its list of the “Top Places to Buy a Home” in the U.S., analyzing the 40 largest metro areas across the country. Austin was named the 2nd best place to buy a home right now in the nation, topped only by the Houston market. San Antonio and Dallas also fared very well in the study, at #5 and #6, respectively.
Clearly, Texas is still a great place to buy!
The criteria used for this study were as follows:
- Included cities where home prices have actually appreciated over the past two years
- Measured tightening vacancy rates as a measure of where buyers are purchasing to live, not strictly to invest
- Factored in the spread between a monthly rent payment and a mortgage payment at the median level (cities where rent and average mortgage are close were scored higher)
Austin was cited for its extremely low (and falling) vacancy rate, which now stands at an astounding 1.5%. Median home prices here in Austin also surged by over 12% from 2005 to 2007.
The article also references our trendy art and music scene. For more information about Austin live music, check out this article that I wrote a few months ago:
If you are considering a move to the Austin area to take advantage of this brilliant opportunity, please feel free to give me a call anytime. I would love the opportunity to assist you with this. My cell phone number is 512-796-7653 and our Austin real estate website is at www.austintexashomes.com. Thanks! Jason Crouch