Promising Outlook for Austin Market
Posted on Friday, January 4th, 2013 at 11:26am.
According to Trulia, Austin’s real estate market has all of the right ingredients for a very strong year. In a recent article predicting the 10 Healthiest Metros for Housing in 2013, Austin was ranked #5 of all housing markets across the nation- beating out cities like Seattle (6) and Fort Worth (9). According to Jed Kolko, Trulia’s Economist, a city requires three basic elements to make it a healthy prospect, and Austin has all of the right parts. Kolko’s formula for a healthy market includes:
- Strong Job Growth (to keep up the demand for housing)
- Low Vacancy Rates (to bring in new construction)
- Low Foreclosure Inventory (to aid in recovery)