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Austin Housing Market Should Expect Continued Growth in 2013-2014

The Austin housing market should expect to see sustained gains as the local economy continues to grow. According to Angelos Angelou, a local economic consultant, Central Texas should continue to prosper over the next two years despite the lack of clarity on the futures of the national and global economies. Angelou has released an annual economic forecast for Central Texas in each of the last 27 years.

His forecast shows the Austin area continuing to grow in population and economic strength throughout 2013 and 2014, which will strengthen the Austin housing market. It is likely that growth will accelerate over the next few years as large companies such as Apple and Visa continue to move to the Austin area. New companies bring more jobs and people to fulfill those jobs will follow suit. This will increase the demand on the Austin housing market and throughout Central Texas.

Based on Angelou’s predictions, the area’s population will expand 7 percent by 2014 to almost 2 million people. Local employers will add nearly 30,000 new jobs in both 2013 and 2014. Of course these are only estimates, but Angelou’s forecasts carry weight. His previous forecast for 2012 predicted an increase of 19,500 new jobs in the area, while Austin employers are currently on pace to create closer to 25,000 new jobs this year.

This will place an even higher demand on housing in Austin, Round Rock and the surrounding areas. With much of the economic growth focused in North Austin, the northern suburbs will also benefit. Currently the local housing markets are already stretched to near capacity with barely 3 months’ worth of inventory available to perspective buyers. This is slowly pushing up prices, a trend expected to continue though it might slow down as more home owners put their houses on the market in the spring.

Give me a call at 512.791.0229 or email me at Robert@RobertJFischer.com if you’re considering selling your house. I’d love to help you assess what your home might be worth in the current market and walk you through the process. My team and I sell homes quickly and at a top price with top shelf marketing tactics. I’d love to discuss your real estate needs in light of the steady growth of the Austin housing market.