Best of the Rest

Once again, reports are coming out saying Austin is one of the healthiest cities in America in terms of its housing market. It doesn't mean we haven't been through a rough patch, but with continued population growth and low housing starts, our medium-term outlook is bright.

Here are some excerpts from Builder Magazine:

"Even though it took a step backward during the last six months, Austin happens to be the only market on our list that is genuinely close to healthy. Home prices, which rose in 2008, finally declined this year—they are down 4.6% through September—as this Texas metro ended a long run of employment growth and lost some jobs. But its population has expanded by 4.3% during the first half of 2009, which should add housing demand and help firm up home pricing.....Still, unemployment in this progressive city runs only about 7%, significantly below the national average.....Austin continues to draw population, especially retirees, with its low cost of living, inexpensive housing, and warm-weather climate. The city had the third highest household growth rate in percentage terms among the top 100 market."