For a long time, I have considered myself blessed to be selling homes in the Austin, Texas area. It seems like our town gets a fair amount of positive media exposure these days from the national press. Once again, Austin was recognized with optimistic economic news this week by Forbes.com.
Citing the fact that migration in the U.S. remains down overall, Forbes points out that five cities are still experiencing reasonable growth in 2009: Raleigh, Austin, Charlotte, Phoenix, and Dallas.
This dovetails nicely with a previous story I mentioned on this blog, which indicated that Austin may actually experience a housing shortage before the end of the year. Acclaimed economist Angelos Angelou noted that we are expecting 42,000 new residents in this area in 2009, while builders have scaled back their production from 18,000 units to around 6,000 this year.
With current inventory levels hovering around 11,000 right now, an influx of this many new people, combined with local renters who are foraying into the market to take advantage of supremely low interest rates AND the large first-time homebuyer tax credit, a shortage seems likely by the year’s end.
Since 1997, I have specialized in helping home buyers who are relocating to the general Austin area. If you are looking to make a move in our direction, or if you need more information, please feel free to contact me anytime. I would love the chance to help. I can be reached anytime at 512-796-7653 (cell) or by email at firstname.lastname@example.org.
I have also gathered some previous posts of mine which you may find helpful as you are making decisions:
Thanks for checking out this post – I hope to hear from you soon!