Dr. Jim Gaines says "Austin is Blowing and Going!"

By
Real Estate Agent with Coldwell Banker United Realtors® ~ 512.346.1799

Independence Title recently sponsored a lively Central Texas Economic & Real Estate Forecast. Thank you Jen Clark for the invite, I appreciate you!  Dr. Jim Gaines, Chief Economist for Real Estate Center at Texas A & M University was the speaker and one of my favorites. I look to Dr. Gaines, Mark Sprague and Neal Spelce for insight into what direction the wind is blowing when it comes to real estate!

Dr. Gaines said Austin is blowing and going! He told us he was going to tell us what will happen but not whenJ. Our economy has been in motion for 11 years and the positive momentum continues strong. Unless something catastrophic happens, 2018 real estate will be better than 2017 and the same will go for 2019 and beyond!

Our annual job growth leads the country so far in 2018 at 3.7%. Our home sales, year to date are up 6.5% and prices up 5%. We are steadily growing and Austin keeps getting bigger and bigger. We are now larger than Cleveland Ohio! Texas is the largest home building state in the U.S. Inventory is definitely inhibiting sales growth.

Texas is #6 in oil production in the world, hard to believe. Austin is much more resilient due to our diversification than in the 80’s when we sunk into a depression. High tech companies moved to Austin and now we do not depend on Government employees as in the past even they still make up over 17% of the work force in Austin. The private sector is outshining the government jobs in the metro and we aren’t tied to oil production.

The Austin area added 33,900 net new jobs in the 12 months ending May 2018. This was due mainly to the private sector. What a difference from the area’s historical past of state government and state university making up the bulk of our job base. Many feel jobs in the government sector need to pick up the pace.

In May, Austin’s unemployment was 2.8% which many economists will say is “Full” employment! If you’re looking for a job you can find one. It might not be exactly what you’re looking for but you can’t say there aren’t jobs offered.

Austin offers one of the most energetic economics around! I’m thrilled to be a part of our thriving economy and know at some time we will start to slow but its apparent it won’t be any time soon. The world is changing and we are changing with it. The only constant is change.

As always, what’s going on in Austin and real estate information is brought to you as a courtesy by Dorie Dillard Coldwell Banker United, your NW Austin Real Estate Consultant.

If you're thinking of selling your NW Austin home...Let's Talk!  As with everything in life, preparation is the key, and I will equip you with what you'll need to get you as seamlessly as possible through the home selling process.

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Topic:
Real Estate Market Trends
Location:
Texas Travis County Austin
Groups:
Texas Real Estate
All Thing's Texas
Addicted to Active Rain
All Real Estate - Today and Tomorrow
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Tags:
austin tx
neal spelce
independence title
mark sprague
dorie dillard
dr jim gaines

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Ambassador
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

It is fun hearing from the real authorities on the subject. I too am hearing what a ggreat place Austin is and it is booming.

Jun 30, 2018 06:47 AM #1
Rainmaker
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Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Dorie Dillard - Thanks for the good news! 

I had a  deja vu moment. When I arrived in TX in the Spring of 1997, I was in Staffing and Hiring at a Fortune 500 Company. I quickly made friends with a peer who lived in DFW his whole life. We worked very well together; then one day he left for Austin and never came back. He phoned me and said, he found home and felt Austin would be a City of growth and opportunity and he was never coming back. 

Jun 30, 2018 08:00 AM #2
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Dorie,

The statistics are showing that Austin is the place to be, and you are the one to hire when it comes to real estate.  A

Jun 30, 2018 08:24 AM #3
Rainmaker
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Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo & Home Sale Specialists

Terrific insight on your market Dorie. It's always good to get solid information from those in the know!

Jun 30, 2018 09:21 AM #4
Rainmaker
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Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Dorie Dillard - Austin has everything going for it!  That has got to feel good. A diverse economy is so key to the economic stability of the area. 

Jun 30, 2018 09:36 AM #5
Rainmaker
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Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Hello Dorie- - -knowledge is power and the information you share in this post is quite powerful.

 

Jun 30, 2018 10:29 AM #6
Rainmaker
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Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good afternoon Dorie - good reason to celbrate Austin and Texas success.  You are doing everything right.

Jun 30, 2018 10:58 AM #7
Rainmaker
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Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Dorie, love it when there is optimism in business, the economy because that translates to optimism in real estate and Austin is such a great place to live anyway so it makes sense, Endre

Jun 30, 2018 11:17 AM #8
Rainmaker
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Ricki Eichler McCallum
CastNet Realty - Corpus Christi, TX
Broker,GRI,ABR, - Your Coastal Bend Home Source

Hi Dorie, It's amazing to see all the growth Austin has.  I remember as a child how beautiful Austin was and not so big.  I liked it better then.  But some people like big cities and Austin is one of the best.

Jun 30, 2018 11:21 AM #9
Rainmaker
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Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Business is booming in Austin and I always love seeing that you have closed another transaction!

Jun 30, 2018 02:49 PM #10
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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Dorie- Hooray for Austin, Texas!!!  I could live in Austin in a heartbeat!  (don't let my family in Houston know)

Jun 30, 2018 04:04 PM #11
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Dorie it must feel great to be a part of a growing town/city.  Here in CT we are going in the other direction.

Jun 30, 2018 04:10 PM #12
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Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Dorie, so nice to hear Austin's real estate market and economy is doing so well.

Jul 01, 2018 05:07 AM #13
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Robert Vegas Bob Swetz
Realty ONE Group - Las Vegas, NV
Las Vegas Henderson Homes for Sale

Hello Dorie,

Some great information on your video and featured to the group:

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Jul 01, 2018 07:56 AM #14
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

This is very good information to share with families considering a move to the area.

Jul 01, 2018 02:01 PM #15
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Hi Dorie

There is certainly lots of positive news about Austin with what looks like a strong future! We’ll enjoy reading more from you!

Jeff

Jul 01, 2018 03:05 PM #16
Rainmaker
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Terry Records
Records Results!Real Estate - Fort Myers, FL

Hi Dorie,

Great information and hope your business is booming too!!

Jul 02, 2018 03:51 AM #17
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Dorie Dillard

Serving Buyers & Sellers in NW Austin Real Estate
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