Market Blog

  • Austin’s GDP Increased Faster Than Any Other American Metro Economy

      According to an Austin Business Journal article, Austin’s real gross domestic product grew by 6.9 percent in 2017 — 1.7 percent more than any other American metro economy. The Texas capital’s GDP rose to $148.8 billion. Seattle, Washington, cinched the second place behind Austin. The retail and wholesale trade growth in both these cities largely led to their success. William Mellor, the... READ MORE

  • Slumping Home Sales Bode Well for Apartment/Home Renting

      The housing market’s momentum is decreasing, according to an article by The Wall Street Journal’s Ryan Dezember. Sales of existing homes in September dropped 4.1 percent from the previous year, said the National Association of Realtors. This statistic in addition to a handful of others, imply the declining momentum of the housing market. Mortgage rates recently rose to the highest they... READ MORE

  • Austin’s Future Major League Soccer Team is in the Works, Faces Obstacles

      Austin’s journey to having its own Major League Soccer team is well on its way. According to an Austin American-Statesman article, representatives from both sides of the final agreement have no intentions of backing out of the deal. However, the process still faces obstacles and will be ongoing for some time. Currently, the process is seeing a contract in the making. According to city... READ MORE

  • Austin Ranks in Top 10 for US Projected Apartment Deliveries

      Austin is set to welcome 8,837 new apartments this year, the tenth highest number out of U.S. cities within the annual cycle. Austin is one of two Texas cities listed in the top ten list — Dallas-Fort Worth came in second behind New York City. Despite the surge in apartments, rent rates are still increasing nationally. Here in Austin, a handful of reports show our rates rising more... READ MORE

  • Austin’s Airport Prepares for Expansion, Plans for New South Terminal

      Austin-Bergstrom International Airport is nearing the finish line of its current expansion project, while also planning for huge long-term expansions. A new $350 million terminal is entering its final phase of construction, and will add nine gates to boost the airport’s capacity to 15 million passengers a year — a four million increase. This new terminal is expected to open in the spring... READ MORE

  • Texas Experiences 27 Consecutive Months of Employment Growth

      According to a Texas Workforce Commission report in October 2018, Texas’ seasonally adjusted unemployment rate dropped to a record low of 3.8 percent, the lowest it’s been in four decades. In the month of September alone, the construction industry added 3,000 jobs, the manufacturing industry added 2,800 positions, and mining and logging employment grew by 2,600 positions.  ... READ MORE

  • Austin’s Economy Has Best Growth of U.S. Metro Areas in 2017

      According the Bureau of Economic Analysis, the Austin–Round Rock area was the country’s fastest-growing large metro area last year. Austin’s economy grew by an impressive 6.9 percent, and the regions output of goods and services was up from $135.98 billion in 2016 to $148.75 billion in 2017. Bernard Weinstein, a Southern Methodist University economist, said Austin’s expansion is very... READ MORE

  • Texas Ranked Third U.S. State for International Homebuyer Sales

      From April 2017 to March 2018, international homebuyers in the Texas real estate market added $10.89 billion to the Texas economy, according to the Texas Homebuyers Report released by Texas Association of Realtors. The report also revealed that Texas is the No. 3 state in the country for international home sales, Florida and California coming in at first and second. According to the... READ MORE

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