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Market News and Trends

Austin could be lower on this list, but …


As a happy and proud long-time Austinite, I’m always drawn to news stories about our great city.  As I real estate professional, I am especially interested in articles and lists that compare Austin to other areas.  The Wall Street Journal recently had an article about a “housing stress indicator” that compares many U.S. cities and their pain and continuing vulnerability in the ongoing real estate downturn:

Which Cities Face Biggest Housing Risks?

Of course using different contributing factors might yield different results, but this index looks reasonably fair to me. 

It is still true that four states — California, Florida, Arizona, and Nevada — were the hardest hit by the downturn, and they remain the most vulnerable in the coming months.  Austin ranks 26th out of 49 metropolitan areas listed in that article —  FAR better than the experience of most in those states, better than the national average in housing stress, and better than the Houston, Dallas-Ft. Worth, and San Antonio metros. 

We rank pretty well on housing affordability — in this study, the % of the population spending more than 30% of income on housing.  We are among the best cities in terms of  unemployment, which does help to provide some cushion against other financial strains.  The percentage of Austin/Central Texas residents without health insurance is disappointing, but we’re right in the pack with the other metros with large immigrant populations.  Taking all of this into account, I remain very glad that I have been here during this recession than many other places. 

I would like to see Austin with an even lower housing stress indicator, but I took a decidedly “non-economic” look at this list and drew one more conclusion.  With the exception of Birmingham, Alabama, every other major metro that ranked better than Austin has a major deficiency:  they have winter.  That’s too high a price for me!

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About Bill Morris, Realtor

More than thirty years of business experience (high tech, client service, business organization and start-up, including many years in real estate) tell me that service is the key to success and I look forward to serving you. I represent both buyers and sellers throughout the Austin metropolitan area, which means first-hand market knowledge is brought to bear on serving your needs: -- Seller Representation is a comprehensive process that begins with thorough market analysis and consultation, continues with properly staging the home to achieve the highest price possible in a reasonable time on market, a complete program of marketing and promotion, ongoing updates and communication, closing coordination, and follow-up throughout (and after) the sale. -- Buyer Representation is also full service: shopping, previewing, price and market consultation, contracting, negotiating, coordination of inspections, appraisals, repairs, and closing details, and follow-up beyond the closing of your purchase to ensure your lasting satisfaction. Because the real estate industry is becoming more sophisticated and challenging every day, you need a professional that understands the industry and is positioned to stay ahead of the game. I go the extra mile to help you achieve your goals. That's why I constantly research the market and property values so your home is priced effectively from day one. I also make sure the public knows your home is for sale by using innovative advertising and marketing techniques to attract potential buyers.

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