The Nation’s capital and the great Lone Star State capital area are tied for the #1 position for emerging from the recession better than any other major cities in the nation. Three other Texas metropolitan statistical areas appeared on the list that looked for low unemployment rate, rate of job growth (based on Bureau of Labor statistics) and assurance of continual steady growth based on a three year forecast from Moody’s Economy; Forbes looked at metros with the highest positive change in median sale price for single-family homes between the third and fourth quarter of 2009 (according to the National Assoc. of Realtors) and finally, Forbes considered the most recent GDP report available.
Making the list at #7 was San Antonio, #4 Houston/Sugar Land/Baytown and #3 Dallas/Ft. Worth/Arlington metropolitan areas. Austin, these other Texas areas and the remaining Top Ten metropolitans have demonstrated their resistance to the housing crises or are resilient enough that demand is returning more quickly than other areas of the nation. Strong housing markets support resulting industries including construction, lending and household services and give rise to a healthy economy and ending recession.
While other cities experienced job loss, Austin (December 2007-December 2009) boasted a .98% job growth and three years from now jobs are expected to rise by 8.09%. As Austin receives more accolades for a recession-surviving city, Sterling Custom Homes is enjoying a healthy flow and return of interested custom home buyers in our golfing and waterfront communities.