Tag Archives: economy

Austin: First place in national economic rankings

Austin is on top again! After a brief slip to #3, Austin is back up to #1 in the On Numbers Economic Index. The Index measures the relative vitality of 102 major metropolitan areas with populations of more than 500,000. Its 18-part formula assesses private-sector job growth, unemployment, personal earnings, housing-price appreciation, and construction and retail activity. The top 5 cities on the list include: Provo, Utah (2); San Jose, CA (3); Dallas-Fort Worth, TX (4); and Oklahoma City, OK (5).

Check out the graphic below to see how Austin measures up!

Austin Ranked #1 in Economic Index Report

Why are so many people moving to Texas? 3 Reasons

(Photo by Tom Pennington/Getty Images)

(Photo by Tom Pennington/Getty Images)

If it seems like everyone is moving to Texas these days, there’s a reason…they are!

According to the U.S. census bureau, Texas received the most new arrivals between 2011 and 2012 (210,590 new arrivals), distantly followed by North Carolina (60,106 new arrivals) and then Virginia (40, 844 new arrivals).

But why Texas? Here are just a few reasons people are relocating and making the Lone Star State home.

1.  JOBS:

Now, you may have already guessed this but, many people are moving to the State for employment. Strong growth in the areas of energy, technology, manufacturing and business services in Texas has put the state on top in terms of job growth. In fact, according to Joel Kotkin, professor of urban development at Chapman University in Orange, California, four of the top 10 metropolitan areas for job growth in 2013 are in Texas.

2.  IT’S CHEAPER

Lower median home prices, combined with an easier process of land acquisition makes it more affordable and less complicated for would-be Texans to call the state home. Dr Ali Anari, research economist at the Real Estate Center at Texas A&M University, says that a more abundant supply of land and fewer regulations make buying land/homes in Texas appealing to those looking to relocate.

3. LOW TAXES

According to Kay Bell, contributing tax editor at Bankrate, Texas is one of only 7 states in the U.S. where individuals pay no personal state income tax. And, according to Tax foundation Research, only 5 have a lower tax burden than Texas. This, combined with recent tax incentives & tax cuts to businesses, has many people and companies seriously considering a move to the Lone Star State.

Whether you were born & raised here, or just got here as quick as you could, watch out! Texas was also named the “stickiest state” by Pew researchers meaning, once you’re here, you may not be going anywhere anytime soon. But, with all that Texas has to offer, why would you want to? 🙂

See all 10 reasons why people are moving to Texas here

Big Predictions for Housing for Next 2 Years

According to the most recent housing forecast, Fannie Mae economists predict that existing-home sales will rise by 10.5 percent this year, and by 6.2 percent in 2014. The forecast looks even sunnier for new, single-family home sales, projected to grow 15.1 percent this year and an amazing 44.1 percent in 2014!  Time will certainly tell if these predictions turn out to be true, but it seems like a great sign of a recovering housing market.

If you’re thinking about taking advantage of the market and some great interest rates, we’d love to talk with you! Give us a call at 512-829-2062, or search all the listings in your area here

Read the full article here: Big Predictions for Housing for Next 2 Years.

Keller Williams #1 in closed volume for 2012

According to the Austin Board of Realtors, Keller Williams closed volume in Austin Texas dominated the competition in 2012. The Southwest Austin Market Center (the market center our team is part of) closed $1,121,481,375 worth of real estate transactions last year. When combined with the other Keller Williams Market Centers in Austin, our offices totaled over 2 Billion in Real Estate sales! We’re even more excited because 2013 is also beginning with some incredible momentum.  Take a look at the chart below to see how we compared in 2012 to other national real estate firms.

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21 Examples of Austin’s Economic Might

21 examples of Austin’s economic might 

by Colin Pope  Editor- Austin Business Journal – Link to ABJ Article

Magazines, think tanks and list makers have ranked Austin high on some high-profile lists and reports during the past few months.

Here they are — most of them calculated upon hard economic data so we put stock in them.

  1. Austin took the top spot for the third year in a row on Forbes’ list of “America’s 20 Fastest Growing Cities.”
  2. The number crunchers at personal finance website NerdWallet.com populated its list of the “Best Cities for Job Seekers” with many Lone Star locations, but guess who topped them all?
  3. Austin ranked second behind San Jose, Calif., on the Milken Institute’s annual index of best-performing large cities.
  4. When it comes to job gains as a percentage during the past five years, Austin is tops.
  5. This is a good thing, but Austin was named one of the “most surprising” real estate markets recently.
  6. That backs up Trulia’s prediction that Austin will be one of the healthiest housing markets in 2013.
  7. Austin is one of only five metropolitan areas in all of North America to rank in the top 70 of the 300 fastest-growing metropolitan economies worldwide, according to this report.
  8. We are indeed growing fast, so Austin ranked No. 5 on a list of cities with the youngest housing stock.
  9. Forbes has ranked Austin No. 8 on a list of cities where a paycheck stretches the furthest.
  10. Austin has been named the No. 1 destination on the rise in the United States by TripAdvisor Inc.
  11. This is a top U.S. city for clean technology, says Clean Edge Inc.’s Clean Tech Index.
  12. Austin is one of only seven markets to experience a more than 5 percent growth in employees’ paychecks during the past 12 months.
  13. It wasn’t on the football field, but we beat those Oklahoma City folks at something last year — this recent economic ranking.
  14. Austin ranks fifth in the nation for the number of technology startups per capita, according to an analysis by San Francisco-based SizeUp.com.
  15. And Austin’s economic might has done wonders for our neighbors to the north. Williamson County is among the three most prosperously expanding counties in the nation.

16 – 21:   Oh, and Austin is home to some of the best events for entrepreneurs, it hosts some of the best bars in America for beer seekers, has one of the best schools for entrepreneurs, is hitched to some of the best food trucks, is home to one of the coolest co-working joints, and the University of Texas stood strong on a list of the nation’s best colleges for the dollar.

Finally, in the interest of balanced journalism and to prove these list makers aren’t on the take, here are the rare occasions where Austin took a list beating during the past three months.

Austin ranked near the bottom on Forbes magazine’s “Best Cities for Working Mothers” list.

And Austin comes in at No. 21 on a ranking of 25 major U.S. cities’ public transit systems.

I know plenty of happy, working moms so I’ll take issue with Forbes on that one. The public transit issue? No comment.

Thinking about building? You’re not alone!

According to a recent U.S. Census Bureau report, new home sales hit a 2 year high in November making the highest rate of new-home sales since April 2010, when sales were inflated by a temporary $8,000 tax credit for home buyers.

New home sales are on the rise

New home sales are on the rise

This is good news for the housing market, which is starting to show signs of recovery. A combination of near record low mortgage rates, lower unemployment and a drop in foreclosures means there are more buyers interested in purchasing, and fewer available homes. That in turn has lifted home prices.

Wondering what’s in store for the housing market in 2013? Check out CNN’s 5 predictions for housing in 2013.

Austin Ranked #1 in Monthly Economic Rankings

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Image Credit: Austin Business Journal

This month Austin moves up on the On Numbers Economic Index due to its employment growth and its stable housing market. Austin has consistently been ranked #2 on this index for the last few months, but this month it pushed past Oklahoma City to earn the top spot.

According to the report:

  • The number of private-sector jobs in Austin has increased by 7.9 percent since late 2007, easily the fastest pace in America.
  • Unemployment rates are lower than 5.5 percent in only 12 metros. Austin’s rate is 5.3 percent.
  • The value of a typical Austin home has risen 4.2 percent in five years, the fourth-best increase in the nation.

Other Texas cities to rank in the top 20 are Houston (3) and Dallas-Ft Worth (14). For more information and the full article, visit http://goo.gl/U7j2L

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Central Texas Report on Jobs

Things are looking good for Austin & the surrounding areas, here are some highlights from the Austin Chamber of Commerce’s most recent report:

Job Growth

  • Austin ranks number three in the nation in job growth with a 3.5% change over the last 12 months resulting in 28,200 new jobs. Public and all private sectors added jobs.
  • Texas had a combined public/private sector job growth rate of 2.6%. Four out of the top 10 cities for job growth were in Texas with Houston the number one growth market in the US
  • US showed an overall job growth rate of 1.4%

 
Number of Jobs

  • Austin has now added 44,200 jobs from it’s peak employment on November 2008
  • Texas has added 248,800 jobs from its peak employment on November 2008
  • The US remains 4.3 million jobs short of peak employment set on November 2007 (60 months ago!)

 
Unemployment Rate

  • Austin has the second lowest rate of unemployment out of 50 largest metros at 5.3% vs 6.6% this time last year. (Houston by comparison dropped from 7.7% last year to 6.2% this year. Within the AUSTIN MSA, Travis and Hays counties have the lowest unemployment rate with 5.2%).
  • Texas’s unemployment rate is 6.3% compared to 7.6% last October.
  • The US October unemployment rate is 7.5% vs 8.5% last year.

 
Employment by Industry

  • Austin’s fastest growing segment over the last 12 months: Professional and Business Services – 10,700 jobs (or 9.1%)
  • Texas’s fastest growing segments over the last 12 months: Both Construction and Natural Resources grew by 7.1%. 

Link to article: http://www.austinchamber.com/do-business/data-research/economy-perspective.php?utm_source=Focus+eNews+-+November+27%2C+2012+&utm_campaign=FOCUS+-+November+27%2C+2012&utm_medium=email