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Commercial Real Estate Since 1975

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Kim_Gatley
Kim Gatley
Senior Vice President &
Director of Research
REOC Austin
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Austin unemployment stays low in July

JobsUnemployment in Austin dropped in July compared to last year, according to the latest monthly report released Friday from the Texas Workforce Commission, but ticked slightly higher than what was seen in June.

According to the report, the Austin area’s seasonally unadjusted unemployment rate in July stood at 4.6 percent. It was 5.6 percent in July 2013. But it’s up slightly compared to June, when unemployment was only 4.4 percent.  …Read Entire Post

Steady growth of commercial sector signals strong economy

RoundRock_TexasRound Rock is logging its second straight year of strong commercial development as shown by 29 new commercial building permits submitted to the city through the first half of 2013-2014 fiscal year.  Local experts are seeing the trend as reason enough to call the recession, which still lingers in other areas of the country, a closed chapter in the city’s history.  …Read Entire Post

Expert: Austin's economy expected to continue on economic roll

New-home-ConstructionIn a recent presentation to nearly 700 business people at the Real Estate Council of Austin’s mid-year economic forecast, local housing market expert Eldon Rude reported that Central Texas has seen unprecedented demand in most real estate industry sectors since the recession but the region’s rising home prices could slow population growth in the Austin area, as people and companies choose to remain or locate in cities where home prices are lower.  …Read Entire Post

Austin's strong metro economy will stay ahead of the pack for years, report finds

austinskylineAustin led the nation’s cities in 2013 with a gross metro product growth – the sum of all goods and services produced annually – of 4.6 percent, according to a report recently released by the U.S. Conference of Mayors.

The city is expected to hold its top spot though 2020, with an average annual gross metro product growth of 4.4 percent.

The report relayed optimism about the improving U.S. economy and stressed that metro areas would be the quickest recover and improve as economy emerged from the effects of the recession. …Read Entire Post

Lone Star State employment continues to shine

jobsThe latest employment data released by the Texas Workforce Commission shows that job growth continues in the Lone Star State.

Texas’ unemployment rate was 4.7 percent in April 2014, down from 5.3 percent in March and from 6.0 percent in April 2013.

From April 2013 to April 2014, the Austin-Round Rock-San Marcos ranked third in the state with 29,900 jobs created which marked a 3.5% annual growth rate.  …Read Entire Post

Texas is best for business

number_one_goldTexas maintained its position at the top of Chief Executive magazine’s list of Best and Worst States for Business.  Recognized this year for its growing population, low unemployment, low taxes and booming 4.8 GDP growth rate, the Lone Star State has held the number one spot for ten straight years.   …Read Entire Post

Forbes ranks Austin No. 1 for fourth-straight year

number_one_goldAustin’s accolades keep piling up. After the city ranked at or near the top of most economic polls and surveys in 2013, the Texas capital has started 2014 right where it left off, ranking No. 1 on Forbes’ list of the country’s fastest-growing cities for the fourth year in a row.

Forbes noted that Austin had a 2.5 percent estimated population growth in 2013 — the highest of all geographic regions in the country. …Read Entire Post

Austin's job factory gears up

jobsThe first five weeks of 2014 have already seen at least 15 companies announce their intentions to hire more than 1,600 employees in the Austin region, according to data by the Greater Austin Chamber of Commerce.

Current figures far exceed the Chamber’s tracked announcements in past years. In January and February of last year, for example, 19 companies announced plans to hire 562 employees, while in the first two months of 2012, 16 companies announced plans to hire 760. …Read Entire Post

Austin’s economic momentum tops Forbes’ list

AustinCityLimitSignMore good news on the economic front – Forbes.com recently named Austin No. 1 on its list of American metro areas with the most economic momentum heading into 2014.

The Forbes’ ranking pointed to Austin’s double-digit growth in GDP, jobs, population and birthrate since 2007.  In addition, the Texas capital has a very strong hipster reputation, attracting many of the same people who might otherwise end up in Silicon Valley or San Francisco, but it also boasts the low taxes, light regulation and reasonable housing prices that keep migrants there well past their 30’s. …Read Entire Post

Austin tops Best-Performing list

number_one_goldOnce again, Austin has topped Milken Institute’s list of Best-Performing metros in the nation.  Lauded as an important technology center, the Austin MSA boasts the 13th-highest concentration of technology output in the country.

The city continues to project a hip image that makes it easy to recruit workers from out of state and draw skilled young professionals.   …Read Entire Post