Austin is actually the only U.S. major city to boast an overall job increase.  At .4% it doesn’t look like much, but, at least, it’s a start.  A healthy unemployment rate of 5.8% for April is much better than the national average, too.  June is the 3^rd month in a row that the city has outperformed all other cities in the U.S. with 750,000 or more in labor forces.

Production jobs dropped in April indicating a slowdown from the high numbers of recent job losses.  Retail and service jobs are up from June of last year.  Professional and business services jobs are back up to all-time highs not seen since October of 2008.

Jobs in technology aren’t doing so well, however.  Semiconductor, electronic component and computer manufacturing job numbers are still falling.

Most major cities in the nation encountered dramatic price increases in real estate between 2001 and 2006.  Austin, however, experienced a slow-to-moderate annual 3% to 9% appreciation rate..  The result was that home prices remained relatively steady, even though the nation’s recent recession, and some areas have even experienced a slight increase.

The following are some statistics that you may find interesting for the City of Austin relative to the past two years:

• Number of homes available for sale — increased by 12%.
• Number of days on the market – increased by 47%.
• Supply based on absorption rate – increased by 44%.
• Number of homes under contract – decreased by 19%.
• Median home sold price – increased by 1%.

Business Week announced that Austin’s 78749 zip code ranked #2 on its list of “The 10 Fastest-Selling Housing Markets in the U..S.”  With an average of 68 days on the market (DOM), it is second only to Sunnyvale, California..

You’ll find a great selection of homes available in most areas in Austin in affordable price ranges for all, and it’s still currently a buyer’s market.  The number of houses under contract is increasing, however, which means that the best deals may soon be gone.  New home construction is down by 47%.  As new home inventories drop, a shift will occur in the new home market.  Builders will begin to raise their prices, since less inventory gives way to a seller’s market.  With fewer new homes available, resale home will be in greater demand, driving resale prices higher.

Better snatch up that Austin real estate while it’s still available! Click to Austin, TX Homes for Sale to see what you can find today.