In our last blog we spoke about how growth is affecting the real estate market in Texas. This month, we want to take a look at one of the reasons such growth is taking place. In a time where the job market is extremely volatile, Texas has seen a tremendous influx of jobs available. In fact, between the years 2004-2014 Texas lead the U.S. in the job growth.
Delving back into Potter’s lecture from our last entry, you can see that Texas tops the list of jobs created over the past decade with 2,180,000. This vastly overshadows its closed competitors, California (810,000), New York (550,000), and North Carolina (340,000). According to a 2014 article by the Washington Post researches say, “Texas has produced hundreds of thousands of well-paying jobs across most industries since 2000, making Texas the top destination for domestic migrants since 2006.”
While oil has always been big business in Texas, the article shows that there has been an even and varied distribution of job growth in different industries from education and health services to construction and trade. This variety of jobs in the market allows for a sustainable amount of growth moving into the future. According to the Houston Business Journal, “Texas added 33,200 nonfarm jobs in May.” This is an increase despite losses in the oil industry. With as much diversity in job growth there isn’t as much fear placed on a bubble bursting and suddenly people are fleeing Texas.
So what does this mean for buying a home? With 29% of the country’s new jobs being founded in Texas, our communities are continually strengthening and becoming richer. Housing values can remain consistent or even demand more of a payoff if you eventually sell. Texas is a highly coveted area for developing a life and a family, rivaling the U.S. most industrious states.
With a nurturing and skilled real estate agency, you can find a spot for you, your family or your business in this changing market. It’s just about being informed. For more reading on Potter’s lecture, refer to the linked pdf. Come back each month for more exploration on how to approach Texas’s ever changing climate.
Power Luncheon PDF
Washington Post Article: http://www.washingtonpost.com/blogs/govbeat/wp/2014/03/07/texas-isnt-just-leading-the-nation-in-job-growth-its-doing-it-more-equitably-too/
Houston Business Journal: http://www.bizjournals.com/houston/news/2015/06/19/texas-job-growth-back-on-the-upswing-despite-oil.html
Texas is constantly changing. It’s one of the side effects of being one of the largest states in the country. Things are always bigger in Texas, from our metro areas to our migration patterns. Understanding Texas’s ebbs and flows are important in figuring out how to handle its real estate market.
According to Lloyd Potter’s lecture on the changing demographics in Texas, Bastrop County experienced a substantial increase in population between 2010 and 2014. This is a period in which 102 counties actually lost population. There has been a shift over the last four years where people are leaving the north-western region and settling east. Counties such as Bastrop that are situated around Texas’s four powerhouse metro-areas, Austin, Dallas, Houston, and San Antonio, all experienced growth.
Bastrop County is projected to be one of the top-10 fastest growing counties in Texas. According to a report in the Elgin Courier, Bastrop County is expected to reach a staggering 272,723 people by 2050. This is a huge leap from the 74,171 people it boasted in 2010.
But what does all that mean? Texas is not a stranger to change. Growth is in its blood. But growth is not a scary situation. It just requires preparation. With growth, the markets change as well. Incoming residents change the makeup of towns and regions, rearranging their demographics to affect things such as average housing cost and availability to quality of school districts and the types of stores in your community.
With a nurturing and skilled real estate agency, you can find a spot for you, your family or your business in this changing market. It’s just about being informed. For more reading on Peter’s lecture, refer to the linked pdf. Come back each month for more exploration on how approach Texas’s ever changing climate.
Here is the link to the Elgin Courier article.
Please also see the Power Luncheon Changes in Demographics of Texas Report.
Austin is the third fastest growing big city in America and the housing market is reflecting that. The
increase in annual home sales at the end of 2014 marked a fourth straight year of increases in the area.
As our community continues to expand at a rapid pace, it’s an important time to be savvy about your
real estate decisions.
Due to steady job and population growth, real estate has been going through the roof in the area. With
new subdivisions developing and expanding in the Bastrop area all the time, they are still struggling to
keep up with the demand for its residents. On average in 2014, a house stayed on the market for only
47 days before being purchased. That is three days fewer than in 2013. Turnover like that as well as a
competitive market could leave newcomers to town feeling anxious about finding their own place to
The Austin-area housing market is at the very least consistent. According to a report, 2,283
single-family homes were sold last year. Families from all walks of life in a wide array of homes. With
the right realtor to help you navigate this generous wave of sales, you can be looking at the home of
your dreams in no time. Real estate has a tendency to be a very scary field, especially for first time
buyers. There are so many pitfalls and things to know that most are seem overwhelmed by the prospect
of buying or even looking for a place of their own. Here at Bridges Real Estate Group, Patti Bridges is
licensed and skilled in all the ways to help you make the right decision and find the house of your
It’s a good time to be house shopping in the Austin area. Let us show you how!