Austin Ranks Second in the Nation for Real Estate Investments
published on March 22, 2012
Austin is one of the top five best real estate investment markets in the country, according to the National Association of Realtors. Realtor.com ranked Austin the second best investment market in the United States.
In addition, homes in Austin are selling at more than twice the national rate, with one of the highest potentials for price growth in the US. Further, the median list price of a home, $229,500, is 12% higher than it was a year ago in Austin, meaning that the market is on a clear upswing. Austin neighborhoods with homes in the median range include Belterra, Falcon Pointe, and Lost Creek.
It’s a good sign to potential home buyers when large companies begin investing in a local market, signaling that the economy is strong and growing. Austin’s recent jump in investment property rankings suggests that economic growth and a stable housing market are firmly in place. Austin is poised in a unique position of economic safety because of its diverse job market, which includes a heavy presence of government, education, and technology jobs.
Austin’s population growth of 16% in the past five years also contributes to the rising demand in homes. One hundred sixty people move to Austin every day, according to Forbes, and they all need housing. Rental markets are taking advantage of this influx, with lease rates on the few available properties skyrocketing. That means its an ideal time to start a new Austin home search.
One hundred forty five metropolitan areas with populations over 400,000 were analyzed to determine the best investment cities, with factors like historic population growth, job growth, housing price changes and the mix of jobs in an area considered. To learn more about why Austin is one of the best cities to live and own a home in, contact an Austin realtor today.
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