2010 looks bright for Austin! Economist Angelos Angelou was one of many economists predicting that Austin will be one of the first cities to pull out of the recession.
One major contributing factor to this is our city’s population growth. Last year 44,000 people moved to Austin and it is predicted that another 110,000 will move here in the next two years bringing in a significant demand for housing amongst other things.
Job stability is another factor affecting our economic strength. Angelou stated that only 2,500 jobs were lost locally in the “worst national recession we’ve had since the 1920s”. That’s pretty incredible when you think our current population hovers at 1.8 million people.
All of this good news couldn’t have come at a better time. Even with the first time homebuyer tax credit and the move up program tax credit coming to an end this Spring, our market will be stable enough to carry us through year’s end.