According to the financial firm of Keefe, Bruyette and Woods, commercial real estate in the Austin statistical area is growing fast & has now reached the top position in three out of six categories included in its Equity REITS/Commercial Real Estate MSA Tracker during the 2nd quarter of 2010.
The recently released study indicated that Austin is the number one “hotspot” for the retail property sector & the multifamily home sector. Other metro statistical areas to top the list of areas containing the best real estate market for exposure of the multifamily sector included Seattle, Charlotte, D.C. & Houston. On the other end, Los Angeles, Cleveland, Detroit, St. Louis & San Francisco were the worst.
The study released by the financial firm in addition found that Austin has the strongest overall economic conditions out of all the metro statistical areas from the study. Furthermore, Austin, along with Raleigh-Durham, Baltimore, Denver and Charlotte, had the strongest markets for retail risk exposure. Orlando, Tampa-St.Petersberg, Atlanta, Indianapolis and St. Louis, on the other hand, had the worst retail risk.
Austin also fared well when it came to change in vacancy, as the metro statistical area posted a change in vacancy that was down by 24 percent, making it the metro statistical area with the 2nd best vacancy change.
Other metro statistical areas consistently did poorly in the various categories looked at within the report, despite that Austin time and time again ranked well. For example, Detroit took 2nd from last in both the economic conditions evaluation & multifamily property sector area, the fourth from last position in the industrial property sector & last in the office property sector. Indianapolis was also near the bottom for many categories, including the area of vacancy rates, with the city showing a 20% vacancy rate and a future forecast that doesn’t appear to be much brighter.
Over the past couple of months, the city of Austin has repeatedly ranked in top positions from multiple economic reports. As it has held up far better than almost any of the other metro areas, in several ways, the Austin metro area has been mostly believed to have been “recession proof.” Given the most recent economic indicators and statistics, it would appear that the city will continue to be poised to lead the nation on the way out of the recession while it stays at the top of most of the nation’s economic indicators.
Read more aboutor take a look at active listings & market statistics in Lake Pointe Real Estate & Homes For Sale in Austin, TX.