If you hear someone discussing a hot real estate market, chances are they might be talking about Austin, TX, one of the most desirable real estate markets in the United States this year.
Austin’s real estate market has had outstanding growth for several reasons. Not only is it a hot spot for several technology companies, but it has some of the lowest housing prices as well. That, coupled with the increasing demand, makes Austin an incredible market for real estate investment opportunities.
Austin Real Estate Market Trends
Despite the overall economic uncertainty and declining values, Austin remains an excellent real estate market. Renters and buyers fled from San Francisco during the pandemic’s peak, and this trend continues even as our economy has rebounded.
In the fourth quarter of 2020, Austin’s population jumped over 3%, a rare occurrence, especially in large metro areas like Austin. A larger population means a higher demand for real estate – which is fantastic news for all real estate investors.
Renters Can Now Afford More In The Austin Real Estate Market.
Austin is now in a unique position in the real estate market. With the job market growth, an onslaught of educated people is shifting in, all looking for a roof over their heads.
It’s great news for real estate investors in Austin since they can now charge higher rent. Since Austin is an amenity-filled area, most people are willing to pay more rent.
Higher Occupancy Rates
Nobody wants to rent in an area with low overall occupancy rates. However, that’s not the case with Austin. Occupancy rates in Austin have always been high, but it has become even more alluring recently.
A hot real estate market means you will have fewer vacancies. It also means longer leases and the possibility of tenants renewing their leases. If you are a new real estate investor, this must be music to your ears. Finding and keeping tenants is one of the most challenging parts of renting a real estate property, so a higher occupancy rate makes Austin a safe bet.
The Job Market In Austin Is Strong.
Austin is also a hot spot for substantial technology companies. However, the pandemic has made the area even more desirable. The following companies have either already moved to or are planning on moving to Austin within the next few years:
- Tesla
- Apple
- Samsung
- Charles Schwab
These are only a handful of companies moving to the area. With so many technological giants taking over the place, many people will look for housing, making it the perfect time for you to invest in the area.
Select an Excellent Real Estate Agent to Work With
Selecting the perfect real estate agent is a critical decision you must make when you’re planning to purchase a property in Austin. But since not all agents are created equal, many can make the process harder on you and your wallet than needed. Therefore, partner with the pros to reduce your tensions. An experienced real estate agent from NB Elite Realty can help you navigate the transaction with minimal stress and right in time.
Choose NB Elite Realty For All Real Estate Purchases In Austin.
Investing in Austin real estate market can be a difficult decision. And finding a skilled real estate agent can be like searching for a needle in a haystack.
At NB Elite Realty, we pride ourselves on our extensive training from Nebo Bandovic, founder of the firm, in real estate investments and can help you find an ideal investment property in Austin.
Moreover, our professionals have years of experience and local know-how, enabling them to find the right deal for you in no time. With our expertise and experience on your side, you can easily find a real estate property in Austin that will give you a significant return on your investment. Call us at 844-444-6237 to book an appointment right away!