Statistics

Read the latest market statistics on the Austin Real Estate Market.

Found 40 blog entries about Statistics.

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Texas Ranks Among Top States for Business

Graph of Texas Business Friendliness Grade Compared to Amount of Ease within Business Regulations

With its superior economic climate and ability to recruit employers from out of state, Texas ranks #6 among Forbes’ list of best states for business and #1 on Thumbtack's list of most small business-friendly state.

Why is Texas one of the best states for business?

Graph of Texas Business Friendliness Grade Compared to Economic Growth Over the past 5 years Texas has seen a strong correlation between small business friendliness and economic growth.

Small businesses and startups are known to thrive in an open business environment which is why Texas is one of the best states for business. Texas' business-friendly environment follows the ‘less is more’ principle. Less regulations, less taxes and less unions make it easier to do business in Texas. Many

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Graph of Texas Employment Rate Compared to US Employment from 2008 to 2015

While the Austin housing market is experiencing record-setting months with double-digit price increases, according to economist Mark Sprague of Independence Title, it is not considered an overvalued market. Texas real estate appreciation is coming from a strong job market and not from speculation by investors. Betting on appreciation is what typically causes a bubble.

Read more about how job creation is driving demand and home values in Texas on Independence Title’s Real Estate blog, Independence Voice.

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  Austin best city for investing in 2015

Of the 105 largest U.S. metros, Forbes says Austin is the #1 Best Buy City with great job and population growth potential.

Just when you thought Austin’s housing market was becoming overvalued, Forbes recently rolled out their list of top cities to invest in housing for 2015 with Austin listed as the heavyweight champion. Not only is Austin forecasted to perform extremely well this year, 5 major Texas metro areas make up half of Forbes’ top 10 Best Buy Cites in 2015 Following Austin (No. 1), Texas cities with the best opportunities to buy include Houston (No. 3), Dallas (No. 5), San Antonio (No. 6) and Fort Worth (No. 10).

To create the list of best cities to invest in housing, Forbes teamed up with Local Market Monitor (LMM), a North

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Austin's crane-filled skyline reflects the healthy growth of the city

Some of you may have read the recent report by a San Francisco based real estate company’s Chief Economist, Jed Kolko. Kolko claims that a number of Texas region metro areas, including Austin, are potential bubble markets to watch. This claim is based on his analysis that home values in Austin are overvalued relative to fundamentals.

In the aftermath of the financial crisis of 2008 which in large part was caused by a housing bubble, this is unsettling news and as real estate professionals, we would likewise be concerned if we believed it. However, we along with many experts, do not believe Austin is a housing bubble market, nor do we believe home values in the Austin market are overvalued.

So what exactly is a ‘bubble market’ anyway?

Trulia

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SXSW 2014 - Economic Impact on Austin

South by Southwest, Austin's massive film, music and interactive festival is known not only for bringing major talent to the Lone Star state, but also for its great impact on the city's economy.

The 2013 Economic Impact Report states that last year the 10-day festival brought in $218.2 million to the economy. With thousands upon thousands of visitors and residents buying local, the short-term impact on area businesses is significant. Long term effects on the economy result in new retail businesses, real estate purchases, and improvements to infrastucture.

As the fesitval grows, the city faces new challanges and must be proactive in making improvements to this city-wide event.  An estimated 155,000 people attended at least one event in 2013.

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Austin, TX - Fastest Job Growth and 2nd Lowest Unemployment Rate

Austin currently has the fastest job growth rate and the second lowest unemployment rate nationwide, despite being the 35th largest metropolitan area in the U.S. More than 37,700 jobs were created in the last year in Austin, beating both San Francisco and Orlando's job growth.

According to the U.S. Bureau of Labor Statistics, Austin accounted for 874,700 total nonfarm payroll jobs as of January 2014, a 4.5% change from the previous year. Of the almost 38,000 jobs created in the past year, half include jobs in two major industries, professional & business services, and leisure & hospitality. The goods-producing industry accounts for the smallest share at 10.9%. Cities in close competition for highest job growth rate include San Jose, Nashville, San

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Austin Luxury Market Analysis 2013 Realty Austin's Featured Luxury Listings

Realty Austin co-owner, Jonathan Boatwright, discussed the luxury market in Austin, Texas with the Austin Business Journal.

Austin's luxury market, which saw a considerable increase in sales in 2013 compared to 2012, had nearly $883 million in sales of homes sold at $1 million or more. Upon crunching numbers, Jonathan found that 555 homes were sold - a 49 percent increase from 2013, when just 373 were sold. This statistic does not include luxury homes that were not listed in MLS.

The average price per square foot was $326, a $3 increase from the previous year. Average days on the market for luxury homes was also reduced by 33 days from 2012.

The downside to the dynamic sales of 2013 is that the

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Austin, TX is Best City for Job Seekers 2014

Austin is the place to be for insurmountable reasons. For most, they are appealed by the vast numbers of opportunities one can discover in the capital of the Lone State State. The state itself was named the #1 Most Competitive State, the #2 Best State for Business, as well as the #2 Best Entrepreneurial Climate. Fellow Texan cities, like DFW, San Antonio and Houston help to keep Texas in the high ranks, but Austin has taken the lead on most occassions. According to NerdWallet, the Best City for Job Seekers in 2014 is the one and only - Austin, TX!

Factors taken into account were the working-age population growth from 2010 to 2012, monthly homeowner costs, median income for workers and the unemployment rate. For Austin, these translated to 5.9%

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Image of Austin Job Search - Austin has the 2nd lowest unemployment rate of major U.S. cities Image by Bizjournals

Austin's unemployment rate drops to 5.1% – 2nd lowest in nation and 2% lower than national average.

The Bureau of Labor Statstics released its list of the major U.S. metropolitan cities (cities with populations over 1 million people) with the lowest unemployment rates in October 2013. Austin has the 2nd lowest unemployment rate of major U.S. cities and shows no signs of slowing down as it continues to attract international tech companies like Google and Apple. Between January 2013 and October 2013, Austin employers added 20,795 jobs outpacing the labor force gains over the same period of 15,289. Down from 5.8 percent in January to 5.1 percent in October, Austin's unemployment rate is 2% below the national unemployment rate

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Austin is Best Economy 9th Month in a Row Original image by AustinPixels

It's safe to say that Austin's economy isn't backing down any time soon. For the ninth month in a row, Austin has been recognized as having the best economy in the country.

Like other top ranked months, strong job creation rates have pushed Austin ahead of the competition. According to On Numbers, Austin is the only city with job growth percentage in the double-digits, just below eleven percent. To give you a gist of what that means... no other cities in the U.S. have seen job growth over a span of five years that is higher than eight percent. From August 2012 to August 2013, Austin added 23,800 jobs. Give yourself a pat on the back, Austin!

Each month the Business Journal's On Numbers Economic Index ranks 102