It’s Bigger in Texas (Even Austin’s Housing Market)

October 2, 2007

metaltexasstar.jpgThis is an articlethat was somehow missed back in August- which is unfortunate because we are constantly telling our home buyers and sellers the state of Austin housing market is great.  Normally, an eyebrow rises and a curious look appears on the buyer or seller’s face, but darnit, it’s the truth.  Here are some quotes:

Texas is at the forefront of emerging markets and industries. It’s no longer just about cotton, cattle, and crude—it’s about technology and communications, manufacturing, and international trade, too.

The governor’s quote is backed by hard economic statistics as well. In fact, if Texas were its own nation (once more, that is), it would represent the world’s eighth largest economy.

Texas recently surpassed California as the largest exporter in the nation; it’s the gateway to trade with Latin America, with 75% of America’s commerce with Mexico traveling through the Lone Star State. Texas is the headquarters for 45 Fortune 500 companies, is home to 14 of the 100 Fastest Growing Businesses in America (as rated by Fortune Small Business)

Additionally, Texas employment growth exceeded national employment growth rates in 2005; December 2005 marked 16 consecutive months. Texas employment gained 153,500 non-agricultural jobs in 2005 for an annual growth rate of 1.6% of state non-agricultural job growth.

Hutto TX - “Fastest Growing Community in America.” “Center of the Universe.” “Hippo Capital of Texas.” From 1995 to 2005, the population in Hutto increased an astounding 866%—20 times the increase in the “high-tech Mecca” of Austin during the same period.

Just what does all this mean to the Austin housing market?  Everything.  Our market is being bogged down by the national idiots like Cramer from CNBC who yell that it’s a horrible time to buy.  I could have agreed with Cramer had he specifically named a city on the East or West Coast, but you know what? He didn’t.  Like I said, national idiots who could care less about their negative impact on citites that are just fine. 

Our advice is continue to vet information, continue to be diligent in your Austin home buying and selling endeavors, and further- buy low and sell high.  It is a buyer’s market in some areas of Austin, and a Seller’s market in others- Single Pointe is doing all it can to clear the muck for our Austin buyers & sellers and will continue to be responsible in reporting the absolute facts.

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