Another report just came available. Austin ranks in the Top 5 of Trulia's list of Best Housing Markets for 2013. Three main factors were used for this latest list: Job Growth, Low Vacancy Rates, and Low Foreclosure Inventory.
With that criteria, I'm not sure why Austin wasn't ranked #1. Look at the top 5 below:
#1 Houston, TX - Job Growth was 3.6%, Vacancy Rate was 3.0%, and Construction permits were 15.4 per 1000 homes
#2 San Francisco, CA - Job Growth was 3.4%, Vacancy Rate was 1.7%, and Construction permits were 4.6 per 1000 homes
#3 Bethesda-Rockville-Frederick, MD - Job Growth was 2.8%, Vacancy Rate was 1.2%, and Construction permits were 6.7 per 1000 homes
#4 San Antonio, TX - Job Growth was 2.7%, Vacancy Rate was 2.8%, and Construction permits were 8.5 per 1000 homes
#5 Austin, TX - Job Growth was 3.5%, Vacancy Rate was 1.2%, and Construction permits were 21.5 per 1000 homes
When I look at this list, I'm trying to figure out what they mean by the vacancy rate can't be too low because it needs to be manageble, but Austin is at 1.2% and so is #3, much better than 3% in Houston. Job Growth is supposed to be important and it's just below Houston by 0.1%. I would think housing would be a huge factor and Austin is growing the most with 21.5 permits for every 1000 homes and other areas are significantly below that.
Was Austin moved down on the list because people are sick of seeing Austin at the top of every list? Numbers are numbers, and the numbers show Austin smokes these other cities by a lot. Austin job growth is stated as the third largest of all major cities in the coutry. The 1.2% vacancy rate is the third lowest in all major cities. Constructions shows to be at 120% of normal levels. WOW!!
I'm not sure how Austin wasn't ranked #1 on this list, but there is always subjective reasoning when it's not just about numbers. Too many things can become subjective to too many people. I'm more of a facts person, and the facts speak for themselves.
If you're in the Austin area, or thinking about moving here, contact me today to discuss your goals!! Austin is the place to be!
* The Full Rankings here...
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* Trulia Ranks Austin TX as One of the Best Housing Markets for 2013* was first published on donnahomesblog.com.