Austin is Beating the Market for New Housing

A recent issue of Forbes magazine has ranked Austin, Texas, number 3 for the best cities to find employment.  The magazine has Austin coming in as number one for income growth and number two for job growth. This is a very good sign for the condo and housing market because as job opportunity grows, so does the need for new homes for an expanding workforce.  According to the Texas Workforce Commission, in Austin, job expansion figures indicate 29,500 new jobs during a 12 month period ending September 2007.  This is a 4 percent gain in employment during the past year. When you combine these new jobs with affordable condos, townhomes, lofts, and single-family homes, there is exceptional opportunity for high saturation over the next year.  There are some great austin condo projects in the works right now that will have the duty of creating supply for the housing demand that these new jobs will bring.  Montevista Condos, for example, start in the low 100s, and range in size up to 1,500 square feet. Compared to many other markets in the US, such as San Diego condos, or New York condos, this is very affordable.  Take a look at other Austin condos on www.newcondosonline.com.