The city of Austin has been a popular spot the last few years, and we are enjoying record appreciation even as the rest of the country is seeing a slow down. Just in the first quarter of this year Austin has seen more than 10% appreciation in housing costs according to the Office of Federal Housing Enterprise Oversight. We had been a little behind the rest of the US market in our appreciation rates the last few years, and now we seem to be catching up in 2007.
The unemployment rate is Austin is very low and the job growth has been robust. This seems to be giving the Austin real estate market a real boost. The city is also a hot spot for out of state investors. We have seen lots of investment activity in all areas of town.
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