Austin Real Estate Now is the Time to Buy! |
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Submitted by Wilhelmina Mungera
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If you are thinking of relocating to the state of Texas, it may interest you to know that Austin real estate is a buyers market at this time. As we move into summer Austin real estate generally starts seeing more sales, and that is what we are seeing. With all the issues in the national market and with the subprime mortgage crisis, there was some worry that the Austin real estate market would not heat up in the summer but sales appear to be on the increase. Buyers are seeing much better deals than they saw this time last year.
The economic outlook for Austin generally mirrors the Texas forecast: local job and population growth outperforms the national economy. The Texas Workforce Commission predicts 3.1% job growth and the unemployment rate for December 2007 was estimated at 3.6%, down from 5.1% in the Austin area during October 2006.
Job growth is expected in Austin’s traditional strong employment areas, such as government, education, and health services. Austin is the state capital and seat of Travis County, which makes government a major employer. Austin’s local, state, and federal government employs more than 150,000 workers and that number is expected to increase. With the University of Texas and over twenty other colleges within 30 miles, Austin will need more educators. Austin continues to employ many workers in the leisure and hospitality industry, and large healthcare employers are expected to add workers in the near future. With the high quality of life and the increasing population, Austin should see positive job growth through 2009.
The quality of life and entertainment opportunities are another reason that Austin is a bright and thriving city with a diverse cultural scene. Austin is rich with theaters, live music venues, excellent restaurants and unique shopping centers. Population growth in Austin is driven by the high quality of life in the region, with the area being ranked as a top destination for relocating singles and families.
Buying and selling Austin real estate can be overwhelming so an experienced realtor that will provide you with information, but won't pressure you is advisable. They currently have over 11,000 properties to choose from in the Austin, Texas area.
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