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        <title>Austin Real Estate Blog</title>
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        <description>Austin Real Estate Blog - Cantera Real Estate - This multi-author blog covers the local Austin, Texas real estate market, housing trends, new developments, new MLS listings, Austin area news, and relocation info.</description>
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            <guid>http://www.jimolenbush.com/blog/texaplex-region-considered-to-be-a-leader-in-nations-economic-recovery.html</guid>
            <link>http://www.jimolenbush.com/blog/texaplex-region-considered-to-be-a-leader-in-nations-economic-recovery.html</link>
            <author>brink@canterarealestate.com (James Brinkman)</author>
            <title>Texaplex Region Considered to be a Leader in Nation</title>
            <categories>austin-news</categories>
            <description> <![CDATA[ 
According to Newsweek magazine, the &ldquo;Texaplex&rdquo; of Austin, San Antonio, Dallas and Houston is among the top ten regions in the country in terms of being poised for an economic recovery. This is largely due to the fact that the Texas metros have a strong energy sector as well as a strong entrepreneurial spirit.

In addition to having a strong energy sector, the Newsweek article found that the state of Texas is also an attractive market for those businesses that are looking for a place to relocate. This was largely due to the fact that the state has a &ldquo;pro-business attitude&rdquo; as well as a business tax rate that is relatively low when compared to other states. For these reasons and more, Texas now has more Fortune 500 companies than any other state in the country.

Not only are businesses moving into the area, but the four cities are also experiencing a great deal of migration from workers who are looking for a job. In fact, Houston and Dallas both have higher immigration rates than Chicago. Furthermore, if the job market remains the same in the area, the cities are likely to start seeing a mixture of ethnicities that is similar that found in Los Angeles and New York.

Overall, Newsweek found that Texas has the most job growth in the country. While the states emerging tech center was one reason for this growth, the continually growing University of Texas also contributed to this expansion. Furthermore, Texas enjoyed a great deal of private sector growth from both outside and local companies and firms. Some of these include Nokia, Samsung, Fujitsu and Siemens.
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            <pubDate>Mon, 15 Aug 2011 12:40:08 -0500</pubDate>
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            <link>http://www.jimolenbush.com/blog/austin-housing-markets-shows-signs-of-recovery.html</link>
            <author>jim@jimolenbush.com (Jim Olenbush)</author>
            <title>Austin Housing Markets Shows Signs of Recovery</title>
            <categories>market-statistics</categories>
            <description> <![CDATA[ While housing markets around the country took a significant hit as the country struggled through economic troubles, the Austin real estate market has fared much better. Although the Austin housing market did take a dip in sales and in housing prices, the fall has not been as drastic as with most markets throughout the country. In addition, just as economic experts predicted, the Austin housing market has started to rebound before other housing markets around the country.According to the Austin Board of Realtors, multiple listing service data indicated that home sales increased while also spending less time on the market during the month of February. In fact, a total of 1,145 homes sold within the Austin market, representing a 4% increase when compared to February of last year. These figures also represent a significant increase when compared to January, at which time 884 hoes were sold. Although the median sale price of homes remained unchanged at $189,500, it looks as if the modest job growth and the relatively lower unemployment rate enjoyed by Austin's residents is helping the housing market slowly turn around.&quot;It appears we're beginning to see an impact from this steady improvement, particularly in increases in pending sales and new listings, as well as a decrease in the length of time homes are staying on the market, all of which are indicators of future demand,&quot; said John Horton, who is the Chairman of the Austin Board of Realtors, in an Austin Business Journals article.The amount of time homes are spending on the market has also gone down. When compared to February of last year, the number of days the homes stayed on the market fell by 13% to just 77 days. This is quite a significant difference when considering that the average number of days on the market changed by only 5% when comparing fall 2009 figures to those from the previous year.Pending sales have also increased significantly within the Austin market. In February, pending sales increased by 24% to 1,738. New listings also enjoyed an increase in February, growing by 16% to 3,067. Active listings, on the other hand, remained unchanged at 9,335. While Austin still has some work to do before it can declare a full recovery from our country's recent economic troubles, all signs are pointing in the right direction. Of course, for those who are interested in purchasing a home in Austin, they better not wait too much longer because an increase in selling prices is sure to be right around the corner. ]]> </description>
            <pubDate>Sat, 10 Apr 2010 21:29:52 -0500</pubDate>
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            <guid>http://www.jimolenbush.com/blog/survey-finds-the-state-of-texas-is-showing-signs-of-economic-improvement.html</guid>
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            <author>brink@canterarealestate.com (James Brinkman)</author>
            <title>Survey Finds the State of Texas is Showing Signs of Economic Improvement</title>
            <categories>austin-news</categories>
            <description> <![CDATA[ 
According to the most recent Beige Book survey to be released by the Federal Reserve Bank of Dallas, economic conditions in the state of Texas are showing signs of improvement. In fact, the report found that economic conditions through November had &quot;firmed&quot; and that a number of industries are showing signs of improvement.The Beige Book survey, which is conducted on a periodic basis and evaluates the economic conditions of the Federal 11th district that includes Central Texas, found that the paper, high-tech manufacturing, housing, staffing, energy and petrochemicals industries are all showing signs of improvement. Furthermore, the Dallas Fed's Index of Leading Indicators is also showing that an economic recovery is starting to develop in Texas.&quot;The only issue remaining is the rate of recovery,&quot; said Tom Fomby, who is an economics professor at Southern Methodist University, in a Biz Journals report.&nbsp;&nbsp; &quot;In talking with my economist friends, they seem to that that the recovery is going to be a slow, gradual&quot; one.Fomby went on to say that the signs show that the economy is experiencing &quot;a slow but steady recovery, with some sectors like commercial real estate lagging behind.&quot;The commercial real estate sector is not the only area that is still experiencing deterioration, as the financial services sector is also struggling to get back on its feet. Nonetheless, the survey found that the contacts that were interviewed from within a variety of industries had a more positive tone, though only a few expected to see a significant upturn within the near future. Those in the staffing, accounting and legal services field, for example, reported that prices remained steady, but they were facing more pressure to lower their fees. In addition, while construction costs are still low, manufacturers of construction-related materials are finding that the cost of industrial meal and energy are on the rise. With crude oil prices increasing from $70 per barrel in October to almost $80 per barrel by the middle of November, it does not come as a surprise to hear that energy costs are an ongoing problem for many industries.Within the real estate industry, the survey found that sales of existing homes have improved, though the activity level still remains weak. The biggest question mark within the housing market remains whether or not the improvements are completely due to the homebuyer tax credit or if it is part of a larger upward trend.
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            <pubDate>Mon, 01 Feb 2010 11:00:40 -0600</pubDate>
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