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All Blog Entries by Clive Hinton

Found 65 blog entries published by Clive Hinton.

Demonstrating that entrepreneurial job creation happens inland, the Texas capital placed first among the country’s non-coastal entrepreneurial job creation areas.

Austin has been widely praised for its support of startups. It has led the country for the past two years in the Kauffman Foundation's influential survey of entrepreneurism in the United States, reports the ABJ.

San Francisco, San Jose and Seattle led the field but Austin was up there battling with New York and Boston, taking the 6th spot.

http://www.bizjournals.com/austin/news/2017/04/03/austin-not-a-top-5-startup-city-nationally-but-its.html

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“Flat February home sales could indicate a market correction after two straight years of record Central Texas home sales.

Single-family home sales across the metro inched up 0.9 percent to 1,829 last month, compared with the same month a year prior, according to Austin Board of Realtors data released Thursday”.

I’m not so sure … I’m hearing and experiencing a lot of multiple offers.

Maybe that’s “Austin Cooling”?!

Check out the February details at …

http://www.bizjournals.com/austin/news/2017/03/16/has-activity-peaked-in-the-austin-home-market-flat.html

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Austin's January employment numbers contained a welcome surprise during the month of December.

Austin's unemployment rate increased to 3.5 percent in January from 3.2 percent in January 2016 but also saw a significant update to the December jobs numbers for the Austin area.

The year-over-year numbers for December 2016 were revised upward and now show the Austin area added 32,200 net new jobs, or an increase of 3.3 percent up from 1.9 percent growth originally reported.

The increase in the local January unemployment rate rose slightly, from 3.2 percent to 3.5 percent over the past 12 months, which is recognized as a "healthier" unemployment rate by economic experts. An unemployment rate too low can hurt economic expansion as employers have to pay

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We always keep you up to date on Austin’s housing market but … How did the Texas market perform as a whole last year?

The answer is “Very well” … Maybe too well!!!

In a report just released by the Texas Association of REALTORS ®, the median Texas home price in 2016 was $210,000, up 7.7% from 2015. Home sales volume in the same period was up 4.6%, to 324,924 homes sold. Low housing inventory remained constant in 2016, with 3.3 months of inventory in December.

The concern with Texas performing too well is causing some alarm bells! "Rising home prices and skyrocketing property taxes are driving up the cost of homeownership at an alarming rate," said Vicki Fullerton, chairman of the Texas Association of REALTORS®.. "Growth in property values makes

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Quick update on how our local housing market has started the year …   Stats over the last few months have been a bit erratic on the Austin housing front but it looks like the year has started off very positively with January sales and median prices up solidly over January 2016 numbers.   Add this to the ‘US News & World Report’ voting "Austin as the #1 Place to Live" and it’s a very positive start all around.   http://www.abor.com/wp-content/uploads/2017/02/2017_January-Stats-Release.pdf 
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Austin has ranked as the second healthiest city in the Texas as part of a national ranking by WalletHub. Plano was ranked #1 … obviously something wrong in the accounting there!

Nationally, Austin ranked #32; San Francisco picking up top honors.

34 different criteria were used in the evaluation ranging from the cost of a doctors visit to the level of fruit and vegetable consumption and the availability of fitness clubs per capita. Austin scored highest in its availability of healthy foods.

http://www.bizjournals.com/austin/news/2017/02/13/austin-ranked-no-2-among-healthiest-texas-cities.html

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Flying in the face of National trends, and due to a rapidly rising local residential housing market along with extremely low inventory, Austin has one of the lowest rates of house-flipping in the nation at 3.4%, versus around 6% nationally.   A lack of local home supply makes it extremely difficult to find under-priced homes and flip them to a profitable investments.   The median price of an Austin area single-family home jumped in 2016 while inventory sat at an unbalanced two months in December, according to a recent report by the Austin Board of Realtors.   http://www.bizjournals.com/austin/news/2017/01/27/austin-ranks-among-worst-u-s-city-for-flipping-a.html  
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A recent study ranks Austin #8 in the country for their technical employment opportunities, median tech salary, and median one-bedroom rent.

Tech salaries are increasing at an extremely fast rate with the Austin median tech salary now at $79,980. Increases are attributed to a very tight tech job market and employment in that sector accounts for a bit over 6% of the workforce.

Austin’s rank was finally determined by their wage-to-rent ratio, where the median 1 bedroom rent is about $1134 a month.   

Madison, WI was rated #1 just beating out Dallas.

For all the details check out …

http://www.bizjournals.com/austin/news/2017/01/27/how-austins-tech-scene-stacks-up-by-wage-rent-and.html

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Texas gained 213,500 nonagricultural jobs from December 2015 to December 2016, an annual growth rate of 1.8% higher than the nation’s employment growth rate of 1.4%. The non-government sector added 173,400 jobs, an annual growth rate of 1.7 percent, higher the nation’s employment growth rate of 1.5 percent in the private sector.   Texas’ seasonally adjusted unemployment rate in December 2016 was 4.6 percent, the same as in December 2015. The nation’s rate decreased from 5 to 4.7 percent.   The state’s actual unemployment rate last month was 4.6 percent. Amarillo, Austin-Round Rock, and Lubbock had the lowest unemployment rate.   To check out the full report from the Real Estate Center at Texas A&M…
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Austin’s 5-County Metro area saw 2016 home sales up 3.9% over 2015, selling over 29,500 single-family homes, with a  Median price up 7.2%  at $284,000.

Brandy Guthrie, 2017 President of the Austin Board of REALTORS­® anticipates that “The Central Texas housing market is slowly beginning to align with long-term historical trends. Homes are spending more time on the market and the pace of both home sales and price growth is slowing,” but hasten to add that “This normalization does not necessarily mean a weakening housing market, but a return to less aggressive market conditions.”

Time will tell with home inventories remains at a lowly 2 months of supply.

For the full ABOR report, including individual County updates, check out the full report below

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