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2010 Housing Forecast
2010 Austin Housing Market Experts Present at Sold Out Event
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ABoR partnered with the Home Builders Association of Greater Austin to bring the local real estate community insight on the economy and housing market with the 2010 Austin Housing Forecast held on January 13. Attendees were treated to presentations by Eldon Rude of MetroStudy, Pike Powers of Fulbright & Jaworski, L.L.P., and Jon Hockenyos of Texas Perspectives. These economic experts addressed the sold-out crowd of 500 individuals and discussed Austin's housing market and the national picture, along with unemployment and job growth, energy and the environment, consumer confidence and tax credits. All agreed that signs point to a more steady housing market in the Austin area during 2010. Powers kicked off the Austin housing forecast, diving directly into a talk of a greener future. He spoke about the growing public interest in renewable energy and views green building as the building of the future. Powers looks towards the innovative and creative nature of Central Texas to help the region combat the future and its challenges. Hockenyos spoke about the nation's current issues and factors that will dictate Austin's economy over the next two years. Speaking candidly about job growth and unemployment, Hockenyos says that the national economy must overcome significant challenges before overall economic health is restored. He noted that Austin will likely see flat job growth in 2010 and looks for "modestly positive" economic effects in 2011. Concluding the program was Rude, speaking about consumer confidence and job growth. Texas markets have held steady in home prices over time which helps influences consumer confidence. The tax credit has created some demand for housing. Rude noted that 2010 is starting off in a good place with regards to the months of housing supply that is currently available in Central Texas. Ready for more? Check out the local media coverage from the event below and be sure to look out for tickets to the 2011 Housing Forecast next fall.
Austin Business Journal: |
Eldon Rude, director of the Austin market for MetroStudy, moderated the event's program and provided his own candid insight into the Austin housing market.
