The Carvajal Group Blog

Austin Ranked #6 on Working Towards Home Ownership

September 7th, 2011

In the current economy, people are aware that owning a home is more of a dream than a reality. The low economy and real estate market have led to a declining real estate market, except for in Austin. Austin has been ranked sixth in the top 10 cities with a good real estate market with potential for home ownership.

There are several factors that affect whether home ownership is still worthy in areas like Austin, and they have a lot to do with the real estate and job market. The size of the job market and job availability in relation to the population size plays a big role, with Austin having 90 job postings per 1,000 people. Other factors include the current unemployment rate, median home price, time on the market, as well as number of homes on the market. Austin has an unemployment rate of 7.6% which is the fourth lowest percent on the list of top ten cities. As far as the Austin real estate market goes, Austin has a median home price of $244,900.

Other cities on the top ten list include Washington, Baltimore, Cleveland, Hartford, Denver, Boston, Columbus, Phoenix, and Richmond. With the real estate market looking good in Austin and being ranked sixth, it looks as if now is one of the best times to become a homeowner in Austin.

For more information onĀ buying properties in Austin, contact us today at (512) 419-7770

Tags: Austin Real Estate · Buying homes in Austin