Economic Update Information I Enjoyed

Posted by Eric Peterson on Friday, January 10th, 2020 at 4:57pm.

 

I’ve attended a couple interesting economic updates in the last few weeks and I wanted to share a few of the interesting and perhaps unexpected slides.

Can you believe the average household income for 20% of the people in our area is now almost $250,000, and that is from 2017? Many people talk about the rush of Californians to our area and how that is causing home prices to go up. This demonstrates it’s not just the number of people but also that many of those transplants have higher incomes than residents who have been living here for years.

Where we have seen this impact real estate is prices are being pushed up as our real estate is still affordable for someone earning this type of income.  In addition, more buyers are skipping the starter home and going straight to the move up price range for their first home. In our area that is making it harder for homeowners who want to sell and move up to a larger home. We are recommending to our clients if they are planning to move up they should do that sooner than later; otherwise they may get priced out of their current neighborhood in the future. we are still seeing tremendous population growth in our area.  What’s interesting is seeing the growth increasing in the suburbs such as Williamson and Hays Counties and not increasing as fast in Austin and Travis County.

Overall we are still seeing tremendous population growth in our area.  What’s interesting is seeing the growth increasing in the suburbs such as Williamson and Hays Counties and not increasing as fast in Austin and Travis County.

Who are all the people moving to Austin and where are they coming from.  California gets a lot of the blame but looking at the statistics it shows more people are coming from Houston, Dallas and San Antonio than California. If you came to hang out with me for 2 hours at an open house it sure wouldn’t seem that way because at least where we are most people are from California.

Things are going to look different over the next 30 years. Look at the demographic changes for Williamson County by 2050. Last year we had clients from 14 different countries so we want you to know wherever you are from we are ready to serve you. Of course I probably won’t be working in 2050!

Another surprise is the fastest growing age group in Williamson County is Over 65. No explanation was given but I do know we have sold many homes to parents and grandparents whose kids have already relocated to the area. 

Whenever you are ready to talk about how our experience can help you call or text me directly at 512-791-7473  for a confidential consultation.

Have a Question?

Contact Us Now!

Please provide a valid email address.

Leave a Comment

Format example: you@domain.com
Format example: yourwebsitename.com