Austin, TX (PressExposure) October 19, 2009 -- Citing several recent reports from both local and national sources, Keller Williams Realtor and Author Kenn Renner of BuyAustin.com (http://www.buyaustin.com) reports that Austin has one of the best housing markets in the United States. Austinâs strong population growth and relatively robust job market are cited as reasons for the strength. According to BuilderOnline, Austinâs population expanded by 4.3% during the first half of 2009. Unemployment ranks well below the national average. Other factors mentioned in the report were low cost of living, inexpensive housing and warm weather. The busiest builders mentioned were D.R. Horton, Centex/Pulte, Lennar Homes and KB.
âAustin did not experience the run up of values during the overheated real estate market of the mid-2000âsâ cites real estate expert Kenn Renner, âAustin has been on a counter real estate cycle to the coasts for the past 40 years. When things get tough on the coasts people migrate to Austin and other areas of Texas.â He adds. âI moved to Austin from California in the early 1990âs for the same reason as people are relocating here today, healthy market, healthy lifestyle and family valuesâ. Austin is not immune to the problems that are plaguing weaker markets however. âWe still have challenges that affect our market such as tighter lending guidelines and we have excess inventory at the higher end. But the first time home buyers are coming out and buying homes and that has been very helpful to keep our market movingâ he concluded.
Local Austin news station KXAN quoted Harry Savio of the Greater Austin Homebuilders Association âThe fundamentals are there for housing to continue to grow, We don't have a lot of inventory, we don't have a lot of excess houses on the ground. A lot of first time homebuyers are going out and looking at houses and realizing, if I'm going to buy a house this is probably a good time to do it,â said Savio.
Two other Texas cities were also ranked in the top 10 healthiest cities including San Antonio and Houston. Kenn explains âThe migration to Texas will continue for the next several years. The population in Austin is expected to double in the next 15 years. And why not? Itâs a great place to live, work and raise a familyâ