Austin Economic Forecast 2013

Posted on Tuesday, January 1st, 2013 at 11:38am.

2012 was a good year for Austin’s economy. Thanks to steady population growth, the addition of F1 in the fall and more companies deciding to set up shop in our city, Austin was consistently ranked a one of the best places to live throughout 2012. So as we look forward to 2013, what can we expect for our economy’s future? Local experts tell the Austin Statesman that there is more good news on the horizon for the Austin job market. Economic consultant Angelos Angelou believes the region will add nearly 29,000 jobs in 2013, which would increase job growth by 3%. Many of these jobs will be white collar and tech-related, although others will include jobs in education and the service industry. Additionally, in 2014 we will begin to see the positive economic trends that will accompany the arrival of three major companies- Visa, Apple and HID Global.   There are also high expectations for Austin’s residential real estate sector. 2012 was a particularly good year for Austin real estate (see: Austin September home sales & Austin October home sales). Due to decreasing unemployment numbers and increasing salaries, Austinites should expect to see a continuation of the robust nature of our real estate market. As we recently reported, despite November being a traditionally slow month for real estate, Austin home sales continued to climb- making November the 18th straight month of sales volume increase. In summary: both the Austin economy and housing market are expected to remain healthy and continue to grow in 2013.   Click here to read the full article at the Statesman or check out our recent posts on the Austin market and economy. Here's to 2013!

Leave a Comment