What's happening in Austin Real Estate? Well, that depends on your location. That tried and true catch phrase: "Location! Location! Location!" has never been more true.

If you live in Southwest Austin, chances are your inventory is so low, and your community so desired that your neighborhood may be seeing multiple offers on any home coming on the market. If that home is staged well and presented well, multiple offers are almost a given. I've personally experienced listing a home in Circle C of Southwest Austin and receiving an offer within 4 hours on the market - over list price! Austin saw Southwest Austin become a leader the real estate recovery back in 2005, and it's making its mark again now. The ripple effect has begun. Other close-in Austin communites are also seeing similar activity!

Did you know that Austin's rental market is at a 96% occupancy with only 7300 units available as of May 10th, 2012? Alongside that, understand that over 18,900 people are projected to move to Austin in 2012. Austin is projected to create 45,000 new jobs over the next 24 months. AND our home values have remained positive overall throughout the recession...A rather perfect storm for an improving real estate market.

This translates to the idea that NOW is the time to buy in Austin TX, and NOW is the time to buy in Round Rock, Cedar Park, Georgetown and Pflugerville as well! Prices are not projected to significantly increase until late 2013 or 2014, yet low inventory in some neighborhoods is already setting this price increase trend. Exciting news for a seller, and somewhat alarming news for a buyer depending upon your community of choice.

Our national economy has not yet hit bottom according to experts. Nationally we recover at a slower pace though Austin is said to have turned the corner approximately 1.5 years ago according to Mark Sprague, State Director of Information with Independence Title Company. As of May 2012, 12.6% of all Americans remain unemployed while only 6.1% of Austinites are unemployed. Corporate earnings nationally continue to improve and manufacturing has begun a migration back to the US which is projected to infuse activity into our national economy.

For more information, or regular updates, visit my Market Update page!