The Austin-Round Rock area tied for first on a list of large metros where the recession is easing. This is great news for those shopping for Austin custom homes.
Central Texas tied Washington D.C. in the Forbes.com ranking that compiles job growth and real estate industry improvement, among other indicators. Austin has maintained a relatively low jobless rates, though the number increased to 7.6 percent last month from 7 percent, according to the Texas Workforce Commission. Statewide, the unemployment rate was unchanged at 8.2 percent from December to January, compared to 9.7 percent nationally.
Austin also benefits from high government job generation, according to Forbes. The number of Central Texas jobs increased just shy of 1 percent between 2007 and 2009, more than any other city included in the research.
Dallas came in second on the ranking behind Austin. The number of jobs there are expected to increase more than 7 percent in the next three years. San Antonio and Houston also made the top 10 list.
Job growth projections were based on information from Moody’s.
In regards to the Austin real estate industry, it is a great time to think about buying Austin custom homes. The list also considered median home sale price changes to determine cities where the recession is easing. Metropolitan Gross Domestic Product was another determining factor.