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Austin among fastest recovering cities

Austin among fastest recovering cities

Credit: ABC News

by TERRI GRUCA / KVUE NEWS

Bio | Email | Follow: @TerriG_KVUE

kvue.com

Posted on November 23, 2009 at 9:16 AM

Updated Monday, Nov 23 at 9:41 AM

On this Thanksgiving week I thought it might be nice to share a new study that shows us how lucky we are to live in Austin.

Forbes recently ranked Austin as the third fastest recovering city in the country. San Antonio ranked second. Omaha, Nebraska was tops on the list.

The reasons were home prices that don’t fluctuate wildly, effect of foreclosures, lost jobs and lost productivity.

Unemployment here in the Austin/Round Rock area held steady in October at 8.2 percent, which is still up from last year at the same time when it was 4.6 percent. It’s still much better than the national unemployment rate (10.2 percent).
 

Still homes here take on average 73 days to sell compared to 100 days nationally. The median home price is also healthier—on average 7 percent higher than the average for the top 100 metro areas.

According to Forbes Austin escaped the “perilous zeal for building, and lending, that swept the rest of the country between 2001 and 2007.”

 To see the full list and where your city ranks go here.

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