Recently, it seems all eyes are turning toward Austin, Texas, real estate. An eclectic city, with a wide variety of industries and cultural opportunities, Austin has been drawing attention because of its potential for growth. Recently, it was named one of the top five real estate markets to watch in 2012.
The report, released by Price Waterhouse Cooper and the Urban Land Institute, listed Austin, along with Washington, D.C., San Francisco, New York, and Boston. Austin was chosen primarily because the diversity of its job market puts it in a good position to remain stable despite economic fluctuations. Long known as a culturally diverse city, a Mecca for musicians and the capital of Texas, Austin has recently seen an influx of high-paying tech jobs, as companies have moved their business from places like Silicon Valley to Texas.
Home buying is on the rise in Austin, up slightly from last year, but it is a trend that is expected to continue as the job market thrives and consumers regain their confidence. Winter months are a great time to buy, because it is a traditionally slow time for real estate. What’s more, the current interest rates on home loans are at an all-time low, making conditions very favorable for buyers. Investors have a prime opportunity, too, to snatch up rental properties and turn a healthy profit. Rents are climbing, as an estimated 160 people move into Austin every day.
Last year, the market was in a downturn, as it was in most of the country. Homebuilders in Austin used sound judgment and did not overbuild. As a result, there is now a need for new construction, to keep up with the influx of new residents. There is an especially big demand for great houses in safe neighborhoods for people wanting to raise a family in the Austin area. With the region expected to pull in an additional 20,000 jobs next year, it is no wonder Austin, Texas, real estate is on the rise.
Clark Wilson Builder
With more than 35 years in the residential real estate business, it’s clear that you can trust Clark Wilson Builder to deliver the dream home you’ve always wanted. By building high quality, energy efficient homes in the Austin area, Clark Wilson Builders has ensured itself a spot in the booming 2012 market. Whether you’re a first time homebuyer or a retiree looking to move into your fantasy home, the process starts with filling out our contact form. You can also call us at 512 423-6262 for answers to all your questions. Stay up-to-date on the Austin, Texas building industry by reading our blog, finding us on Facebook and following us on Twitter.