Austin Number One Nationally For Business

August 6, 2007

It’s no surprise to Austinites that Austin has been named by Moody’s Economy.com the best place for business in the United States.  The Austin Business Journal reports that the Round Rock-Austin MSA (metropolitan statistical area) as the top area in the independent economic research firm’s findings. 

The ABJ also noted that the last index reported in March 2007 named the Austin MSA as the seventh best, so guess what?  Our economy is on the rise and the outlook is a good one!  The index takes into account the “current economic conditions, expected trends, and potential risks, taking into account factors such as employment growth, household income, productivity, net migration, industrial diversity and cost of doing business,” according to the ABJ. 

Austin frequently ranks Number One in various studies, and we are in agreement with the study’s findings.  Over the past few months, we have witnessed an influx of companies expanding and relocating employees to Austin which has given our economy a dramatic boost.  In the housing industry, this has translated to a vibrant market- the average days of an Austin home being on the market has decreased 7% over the last year according the Austin Board of Realtors. 

Another sign of a positive market and a trend indicator is the Median Sales Price which has increased 6.7% when comparing June 2006 and 2007.  An increase in local sales prices may sound like bad news for buyers when in fact it is proof of the value of a market- an increase in home prices is good for everyone, especially if it is a continuing trend.

Based on the current housing market in Austin and our own independent business success, we agree with the Economy.com study naming Austin as the best place for business and your Austin Real Estate Investment!

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Hen Pecked by Lani, Asset Director | Filed Under About Austin, Austin News, Market Conditions 

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