While this weeks job report did not show a significant increase to the workforce and raised unemployment, a positive news release about Austin's economy was a welcome off-set. Most areas in Austin are showing a 'seller's market' and Austin Texas listing agents are reporting multiple offer situations. Below is an article in the Austin Business Journal ranking the Austin economy as the 5th strongest in the nation. This is great news for all of us!
We are happy to report that The Austin Luxury Group
has experienced a record breaking May and we owe it all to our loyal customers and some great new friends in the Round Top, Buda and Lampasas areas. Thank you for helping us to remain successful in the Austin market and please remember that we are here to help you in any way we can.
Austin has the fifth-strongest economy in the United States, according to a study released Thursday. Palm City, Fla.-based Policom Corp. annually analyzes local and state economies.
The study considers 23 different economic factors over a 20-year period to determine the rankings. It used data from 1991 to 2010 for the current study.
“The top-rated areas have had rapid, consistent growth in both size and quality for an extended period of time,” said William H. Fruth, president of Policom. “The rankings do not reflect the latest ‘hotspot’ or boom town, but the areas which have the best economic foundation.”
The 10 strongest metropolitan areas are ranked below:
1. Washington, D.C.
2. Des Moines, Iowa
6. Salt Lake City
7. Madison, Wis.
8. Kansas City
9. Sioux Falls, S.D.
10. San Antonio