Austin Texas Named Fastest Growing Large Metro Area in the U.S.

By
Real Estate Broker/Owner with Austin Texas Homes, LLC 453249

 

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.

To read the entire article, please click here.

 

 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 jason@austintexashomes.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!

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If you're looking for a home in the Austin area, you can also visit my primary website at www.austintexashomes.com.  Thanks!

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Katerina Gasset
Get It Done For Me Virtual Services - Wellington, FL
Get It Done For Me Virtual Services
Jason- That is great news for you and more proof that real estate is local.
Feb 02, 2008 08:09 AM #1
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Jason Crouch
Austin Texas Homes, LLC - Austin, TX
Broker - Austin Texas Real Estate (512-796-7653)
KATERINA - I agree completely.  I continue to try to get the word out that things are quite good with our local economy.  Thanks!
Feb 02, 2008 08:29 AM #2
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Adam Waldman
Westcott Group Real Estate Company - Hauppauge, NY
Realtor - Long Island
JASON - This is an excellent post about the state of the Austin market.  A growing population and a strong job market make for a great combination for those looking to relocate.  Nice job.
Feb 03, 2008 12:08 AM #3
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Jason Crouch
Austin Texas Homes, LLC - Austin, TX
Broker - Austin Texas Real Estate (512-796-7653)
ADAM - Thanks!  Austin seems to be making more and more of these lists lately.  Talk to you soon -
Feb 03, 2008 01:04 AM #4
Anonymous
Tom Lasswell

Jason, just came across your information.  Great stuff.  We/I am faced with a lot of sales challenges in the Pacifice Northwest.  I have been originating loans here for over 23 years, have a fairly deep client and referral base, but business continues to slow. 

I had heard that a recent survey came out of somewhere showing the Purget Sound Area/ Northwest as the 2 fast job growth area of the Country.

Is this true to your knowledge and if so who is now #1?

 

Thanks Tom

 

 

Aug 27, 2008 09:04 AM #6
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Jason Crouch
Austin Texas Homes, LLC - Austin, TX
Broker - Austin Texas Real Estate (512-796-7653)

Tom - I am not sure who has the fastest job growth in the country at the moment, but I am certain that Austin has to be near the top.  They are estimating that 8500 new jobs will be created in the next year here.

Aug 27, 2008 09:15 AM #7
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