The chart below, from this morning’s Austin Statesman article, shows why 2009 was probably the bottom of the real estate market for Austin. The inertia of population growth is going to, in the next year or two, overtake inventory and home prices will rise and continue to do so for the next 5 years or more, in my opinion. Barring any further macro economic calamities.
“What this newest data continues to support is the fact that, although the recession very much has come to town, is that Austin continues to be one of the fastest-growing large urban areas in the country,” City of Austin demographer Ryan Robinson said.
Read the entire story here.