The Austin Chamber Of Commerce reports (based on Texas Workforce Commission data) that job losses in Austin from July 2008 to July 2009 were just -0.2%, the best performance among the 50 Top Metros. Four of the top 10 performers were in Texas: Austin, San Antonio (-0.8%), Fort Worth (-1.4%), and Dallas (-1.6%).
In addition to climate (well, maybe not this summer), culture (music, restaurants, theater, dance, recreation, health), higher education (colleges and universities with enrollment totaling more than 100,000), and innovative business environment, Austin remains a destination for corporate relocations and folks just choosing a new place to make their lives. In addition, Austin’s real estate market took some hits when the dot-com bubble burst several years ago and didn’t “enjoy” unsustainable rates of price appreciation since then, so we haven’t felt the last year’s downturn in a significant way.
Desireable place to live, reasonable housing inventory, and stable or slightly growing economy combine to keep our outlook positive. The $8,000 tax credit for first-time homebuyers doesn’t hurt either.
As far as I’m concerned, Austin is always a great place to be, but there is objective evidence to support that conclusion.
I add frequent updates and links (including the C of C link mentioned above) to the Local Market Information tab on my website: (www.eHomesByMorris.com).