Out of 146 cities and suburbs in the US, Austin’s real estate market ranked 2nd in a study by Realtor.com to find the best place to invest in real estate right now. While other cities become investment opportunities due to last recession’s devastating effects, Austin is the only city in the top 10 that saw little drop in prices and ultimately maintained home prices during past years’ economic turmoil. Austin’s potential for price growth is one of the best in the nation, states Realtor.com.
The stability of the Austin economy plus a towering employment rate are the driving forces for Austin’s successful real estate market. Since high employment drives demand for housing, Austin nutures the perfect environment for buying and selling homes. According to the National Association of Realtor’s website, Austin is the 27th most searched real estate market on the web, another indicator of Austin’s popularity for investors.
Not only was the Austin housing market impervious to the drastic nationwide decline in home sales, but Austin homes are selling for more than twice the national rate, making Austin the second best investment market in the nation. With Tuscon, AZ in the lead, Austin is still ahead of 144 other cities that were ranked by Realtor.com. Fort Worth also ranked in the Top 5 best investment cities taking home fifth place for best real estate market for investors.
However, homebuyers aren’t the only ones getting lucky in the Austin housing market these days. Sellers are quickly finding that Austin’s price growth potential is one of the best in the nation, leading most with a median list price of $229,500 which is almost 12 percent higher than last year’s market.
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