Good news for the Austin Real Estate Market - according to a new national forecast from IHS Global Insight, Austin and San Antonio will be the first two US cities to recover from the recession.
In fact, Austin is predicted to return to our pre-recession job levels sometime in 2010 while other US cities are expected to take until 2011 to reach their pre-recession job levels.
Austin is also named on of the 20 Best Performing Metropolitan areas in the second quarter of 2009, according to a study by the Brokkings Institution.
Austin is the a leader among several of the nine metrics tracked by MetroMonitor report, including percent change in gross metropolitan product to percent change in housing prices.
Austin's employment rate fell just .5% from its pre-recession peak - the second narrowest gap in the nation! And, Austin is one of only three US cities that surpassed its pre-recession peak output by the second quarter of 2009. Overall, Austin, McAllen, Texas and Washington DC have been the least affected by the downturn.
Austin, Texas is a great place to live and work!
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