Austin Texas is the best bang for your buck city.

By
Real Estate Agent with Sisu Realty & Associates

With the economy pretty gloomy it is always good to see some positive information.  Our national problems ussualy create a perception that the problems exist everywhere in the country.  They probably do to an extent - everyone feels the pinch in different ways.  This is a great article that shows the economy affects people in different ways and, at least, shows a light at the end of thhe tunnel.  People in the Austin area and Texas as a whole are just closer to the light than other cities. Most consumers need to realize that real estate is local for these reasons. Forbes.com posted their "Best And Worst Bang For The Buck Cities" and they listed Austin, TX as the #1 Best City due to affordable housing and promising job growth.

Please review their article at Forbes.com.

Comments (2)

Donna Harris
Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com - Austin, TX
Realtor,Mediator,Ombudsman,Property Tax Arbitrator

I was told today that Austin has 2 years of inventory when you include new construction homes... sounds a little gloomy, but still plenty of people relocating there to buy up the properties.

Oct 15, 2008 12:41 PM
Bryan Maki
Sisu Realty & Associates - Cedar Park, TX

Hi Donna,

Thanks for your response. We are definitely seeing more listings than we have in the past. Add the fact that there is a smaller buyer pool due to the lender upheaval and the state of the economy in the slowest time of year it would appear gloomy. With Census data showing that Texas had more people moving into the state than any other state and articles like this, we hope that the relocations keep coming to correct these numbers even more so. 

However, as you know, 2 years inventory is a very general term when looking at Austin as a whole and an inaccurate assessment by your acquaintance.  According to ABoR's August stats published we have only a 6 month inventory.  Here is a the link for the Real Estate Center's stats for Austin MLS.  Scroll down to the bottom to see the latest stat summary. We still have subdivisions that are still sellers' markets.  I cannot say it enough that all real estate is local - down to the subdivision.

Thanks again.

Oct 15, 2008 03:20 PM