1. Austin, Texas Real Estate Market Summary
2009 Forecast & Fourth Quarter 2008 in Review
JANUARY 29, 2015 VOLUME 1, NUMBER 1
2. Commercial Real Estate
Development Consulting
25 Years Experience
phone: (512) 486-3737
fax: (512) 383-3712
cell: (512) 970-8359
Email: mark@markpds.com
Web: www.markpds.com
Helpful Austin, Texas
Real Estate News Links
Dr. Ray Perryman’s
Complete Report
Austin Business Journal
Real Estate Center Texas
A&M
Grubb & Ellis Market
Research Reports
Residential Strategies
Quarterly Reports
Sales Associate
Providing Commercial
Real Estate Brokerage
Services
2009 Austin Real Estate Outlook
While the national real estate market continues to struggle, the State of Texas and more
specifically Central Texans can “thank their lucky stars” for their more promising near term
outlook compared to other parts of the country. Consider that:
The Austin Business Journal reported on January 8, 2009 that Texas ranks 4th
on a
new list of best states to start a business according to U.S. News & World Report.
From November of 2007 to November of 2008, Austin ranked 10th
in the U.S. in job
creation with an increase of 6,200 jobs.
Texas is the number one destination state for residential relocations for the fourth
year in a row according to Allied Van Lines as reported in the January 12, 2009 Austin
Business Journal.
”2009 will be one of the toughest years that Austin has experienced”, Angelos
Angelou stated in his recent Austin Economic Forecast. “But we are going to weather
the storm better than many places around the country.”
Bud Weinstein, director of the Center for Economic Development at the University of
North Texas recently said, “I don’t think it is going to be as bad here as in other parts
of the country. We didn’t have the same excesses. We didn’t have the housing
bubble. And, until recently, we were insulated by rising energy prices.”
Dr. Ray Perryman stated in his address to area business leaders that the area’s
economy will get worse over the next few months, but it will improve
throughout the next four years. By 2013 he expects to see improvements in
employment, retail sales and the housing market.
Call Mark Pustka with your Commercial Real Estate Sales or Consulting
Needs @ 512. 970.8359 or Email @ mark@matexas.com
2008 Residential in Review
Housing typically leads Real Estate
Recovery with Commercial following.
Here’s a look at the Fourth Quarter of
2008 as well as 2008 Totals to provide a
glimpse at the Austin Residential Market.
Residential – New Homes (Residential
Strategies, Wednesday, December 31,
2008 Press Release)
New Home Starts
o 4Q08 - Builders started 1,459
new homes, 51% less than in
4Q07.
o 2008 Annual - Starts fell
below 10,000 to 8,987,
compared to 13,624 in 2007,
down 34%.
New Home Closings
o 4Q 08 – Builders closed 2,289
new homes, compared to
3,259 closings in 4Q07, down
2008 Commercial in Review
Retail led the Austin Commercial Market
in 2008 with Office & Industrial #’s down
from 2007. Here’s a look at 2008 in
review.
Office Office vacancy rose to 19% overall in
2008 up from 14% in 2007 according to
Oxford Commercial. 3.6 mil SF of new
inventory contributed to this additional
vacancy.
The office market is expected to remain flat
through the first quarter of 2010. Vic Russo
with Oxford Commercial expects that much
of the vacant space will be taken by
relocations to the area and not from local
expansion.
Retail (Austin American Statesman 1/17/09,
by Shonda Novak)
The Austin Retail market finished 2008 with
93% occupancy, the highest rate in the
