If you are thinking of relocating to the state of Texas, it may interest you to know that Austin real estate is a buyers market at this time. As we move into summer Austin real estate generally starts seeing more sales, and that is what we are seeing. With all the issues in the national market and with the subprime mortgage crisis, there was some worry that the Austin real estate market would not heat up in the summer but sales appear to be on the increase. Buyers are seeing much better deals than they saw this time last year.
The economic outlook for Austin generally mirrors the Texas forecast: local job and population growth outperforms the national economy. The Texas Workforce Commission predicts 3.1% job growth and the unemployment rate for December 2007 was estimated at 3.6%, down from 5.1% in the Austin area during October 2006.
Job growth is expected in Austins traditional strong employment areas, such as government, education, and health services. Austin is the state capital and seat of Travis County, which makes government a major employer. Austins local, state, and federal government employs more than 150,000 workers and that number is expected to...
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