Jobs. Jobs. Jobs. They’re why the Austin housing market is so hot. Austin, Texas continues to create new jobs at a remarkable pace. New jobs draw newcomers, and those new arrivals need places to live. The jobs that are being created in Austin are primarily of the white-collar type and many of them are centered in the high-tech industry. The tech industry has historically paid among the highest salaries in the job market; so many transplants to the area are in the market for Austin’s luxury homes.
Austin Job Growth Strong in 2012 & Expected to Grow 3% in 2013
From November 2011 to November 2012, more than 35,000 new jobs came to Austin. That figure alone clearly demonstrates things are on an upswing in Central Texas. The trend is expected to continue as companies seek out more business friendly environments. Experts predict Austin will increase its job growth rate by another 3% in 2013.
Austin Continues to Attract Powerhouse Companies
Texas’ capital city has taken many steps to lure new companies and create an abundance of new job opportunities. The arrival of such power houses like VISA, Apple, eBay, Facebook, Google, Intel and HID Global are examples of highly successful companies who have recognized the benefits of an Austin work site.
Cost of Living in Austin is Far Superior to Silicon Valley
While the Silicon Valley still reigns supreme in the tech world, California’s onerous tax code doesn’t offer the kind of business-friendly environment young families can find in Texas and Austin in particular. Furthermore, the cost of living in places like Silicon Valley is astronomical. In Austin, the cost of living is a lot more reasonable. Employers want to set up shop here, and people want to move here. In Silicon Valley, it is rare to find a single income-earner family of four, yet a family of four can live acceptably well on one income in Austin.
Austin is Not Just for Families and Kids
And, it’s not just families who have discovered Austin. MSN Real Estate recently released an article regarding which cites are the best for people in a certain stage of life. Not surprisingly, Austin made its way on to this list as the second best city in the nation for young adults.
Builders are Gearing Up to Meet Austin’s Housing Demand
Things are looking up in every conceivable way for Austin. Home builders in Austin are doing a brisk trade in 2013 and they are gearing up their inventories accordingly. This is the time for anyone who is thinking about buying a home in Austin to act. Several major builders have announced price increases effective May 2013.
Thinking of Buying a Home in Austin?
Prices are sure to go up from this point forward, so buying now is a smart move in a number of ways. As any would be home buyer can tell you, the dark, gloomy days of the recession are but a vague memory. Multiple offers are commonplace, especially for the most desirable homes in the most desirable neighborhoods. If you’re thinking about buying an Austin home, 2013 is the year to do it.
Looking for an Austin Buyer’s Agent?
As experienced Buyer’s Agents with a combined 55+ years of experience in residential real estate, our team can help save you time, negotiate the best possible price on your home and recommend professionals who can thoroughly evaluate the condition of the home you choose so you don’t have any surprises. For more information about our team and how we’re different than your average Realtor, visit our Austin Home Buyer section. Then, call us at (512) 827-8323 or email us at info@11OaksRealty.com to schedule a no obligation consultation.