Austin Continues to Lead Country Out of the Recession

According to the financial firm of Keefe, Bruyette & Woods, commercial real estate within the Austin metro statistical area is growing rapidly and has taken the top position in three out of six of the categories included in its Equity REITS/Commercial Real Estate MSA Tracker during the second quarter of 2010.

The recently released report stated that Austin is the number one “hotspot” for the retail property sector and the multifamily property sector. Other metro statistical areas to top the list of areas containing the best market for exposure in the multifamily sector included Seattle, Charlotte, the District of Columbia and Houston. On the other end of the spectrum, Los Angeles, Cleveland, Detroit, St. Louis and San Francisco were among the worst.

The report released by the financial firm further found that Austin has the best overall economic conditions of all of the metro statistical areas included in the report. In addition, Austin, along with Raleigh-Durham, Baltimore, Denver and Charlotte, exhibited the best markets for retail risk exposure. Orlando, Tampa-St.Petersberg, Atlanta, Indianapolis and St. Louis, on the other hand, had the worst retail risk.

Austin also fared well when it came to change in vacancy, as the metro statistical area posted a change in vacancy that was down by 24%, making it the area with the second best vacancy change.

While Austin consistently ranked well in the various categories included in the report, other metro statistical areas consistently ranked poorly. Detroit, for example, took the fourth from last position in the industrial property sector, second from last in both the economic conditions evaluation and multifamily property sector area and last in the office property sector. Indianapolis also came in near the bottom in many categories. This includes in the area of vacancy rates, with the city posting a 20% vacancy rate as well as a future outlook that didn’t appear to be much better.

Throughout the past several months, the capital city of Austin has consistently ranked in top positions in numerous economic reports. In many ways, the metro area has been mostly considered to have been “recession proof” as it has fared far better than the majority of metro areas. Given the most recent economic indicators and statistics, it would appear that the city continues to be poised to lead the nation out of the recession as it remains at the top of most of the country’s economic indicators.

About the Author:
Eric Bramlett is the broker & co-owner of One Source Realty, a boutique Austin real estate brokerage. Eric currently manages his agents, and works with select buyers & sellers. Eric manages an Austin condos website, and specializes in Steiner Ranch Austin. Eric has worked in central & west Austin for 7+ years, and is considered an expert in online marketing.

About Max Leaman Austin Mortgage

GREAT RATES, LOW FEES, CLOSE ON TIME™ ---- 2012 Ranked #1 Austin Residential Mortgage Lender (Austin Business Journal) 2010, 2011 & 2012 Five Star Professional (Texas Monthly) 2009, 2010, 2011, 2012, 2013 PrimeLending Chairman's Circle Award 2009, 2010, 2011, 2012 Scotsman Guide Top Originator (Top 200 Mortgage Professionals in U.S.A.) Better Business Bureau "A+ Rating" National Lender Rankings (Scotsman Guide): Top Purchase Volume (No. 10) Most Loans Closed (No. 32) Top Dollar Volume (No. 88)

Comments are closed.