According to the Austin American-Statesman, Austin was the “only major city in the country, and one of few overall, to increase jobs in May.” This is the fourth month in a row that Austin has earned that merit, according to a Labor Department report. 

Of the 38 largest cities that the Labor Department tracks, Austin was the only one that had more jobs in May than in the previous year. The Central Texas job growth rate was 0.5%. Out of 310 cities of all sizes, only 15 saw increases in jobs in that period, the other 295 had losses. 

Texas cities have ranked highest in the country in terms of housing markets, recession recovery rates and overall economic stability. Austin, San Antonio, Dallas and Houston can all attribute their stability to diverse economies and a housing market that was not hit as devastatingly as Florida and California. 

New homes in Austin, Round Rock and Cedar Park are maintaining their values and the growth in area jobs is a good sign for the Austin MSA economy.

Forbes.com released a list of the best and worst cities for recession recovery and Austin-Round Rock is at the top.  Austin and other Texas cities, such as San Antonio, Dallas and McAllen, are due for a swift recovery because they did not experience the real estate bubble that other states did. 

New homes in Austin and Round Rock are not experiencing high foreclosure rates like homes in other cities like Los Angeles and Fresno because Austin has affordable housing, job growth and a diverse economy.

 The Austin economy, which is home to Dell, the University of Texas and the Texas state government is in good standing because of its diversity and “heavy growth coming from education and health care in recent years.” 

Austin’s economy is also projected to grow by $5 billion between now and the end of 2010 and unemployment has remained fairly subdued. Forbes.com has also recently ranked Austin as the “Best Big City for Jobs.”

Though all other major cities have seen a decreasing job market over the past year, Austin is the only city to see an increase. Forbes has ranked Austin as the “8^th Best Place for Businesses and Careers” of 2009.

According to the Austin Business Journal, the region surrounding Austin “added about 3,400 jobs between April 2008 and April 2009, making it the only one of the nation’s 38 largest cities to post a job gain, new data from the Bureau of Labor Statistics shows. This is the third consecutive month that Austin has outperformed all of the other U.S. cities with labor forces of 750,000 or more.”

Retail, hotel, and restaurant jobs are all up from this time last year and professional and business service sector employment is back to its all-time high last seen in October 2008. Only San Antonio’s unemployment rate was lower than the current rate for Austin by 0.4 percent.

The overall job market has been increasing in the Austin area which has led to a stable or growing housing industry. With an unmatched knowledge of the Austin real estate market, Buffington Signature Homes has been able to stay ahead of the curve of the current market and continue to build new homes in austin.

Austin, Texas was recently selected as one of the “Ten Best Places to Live” by USNews.com in their first annual listing.  

The “Best Places to Live,” selected by U.S. News editors, were chosen from 2,000 locations nationwide by examining factors including an area’s economy, cost of living, population, crime rate, and access to educational, cultural, and recreational opportunities. Ranging from the suburbs to dense metropolitan areas, all of the “Best Places” offer strong economies, low living costs, and ample, affordable recreational activities.

“Choosing where to live is a difficult decision for any family,” said Brian Kelly, editor of U.S. News & World Report. “With U.S. News’s Best Places to Live, we’ve crunched the most important geographic, economic, and educational data and provided the search tools to help make this decision a little easier for families.”

Buffington Signature Homes is a premier builder of new homes in Austin, building in some of the most sought-after communities including Round Rock, Cedar Park and Pflugerville.

Despite the fact that most people are not moving around due to the current economic situation, a few places saw significant population growth in 2008.  According to Forbes, “These places still offer a semblance of stability, as well as great weather, cultural life and, in many cases, affordability.”  Of the top five cities that Forbes’ listed as hot spots for relocation, Austin, TX ranked second behind Raleigh, NC.

One of the reasons that the five cities listed have seen growth during this time and others have not is because these particular places have built economies that “serve as headquarters for a diverse range of companies” and not just one industry.  Austin for instance has a number of large employers including the University of Texas, Advanced Micro Devices and Dell.

Another thing that the five cities listed have in common is more business opportunities, better weather and affordable housing.  The “vibrancy” and buzz around companies in these metro areas is high and that also seems to attract people looking for opportunities.  The top five cities in order are:

1. Raleigh, NC
2. Austin, TX
3. Charlotte, NC
4. Phoenix, AZ
5. Dallas, TX

According to a recent survey by Zillow.com, three out of four U.S. homeowners think that the housing market has seen its worst days and a turn-around is near.  Zillow.com sampled almost 1,400 homeowners around the country in early April and asked where they thought the housing market was headed. About half of homeowners living in Southern states and about 60% nationwide said that their houses were worth less than they were a year ago.  Zillow.com estimates that actually about 70% of homes in the Southern region of the U.S. have lost value in the last year. 

While people recognize that housing prices have been falling and the housing market is in a slump, they are far more optimistic about the future with three out of four homeowners believing that their homes’ prices will increase or remain flat over the next 6 months.  Homeowners are also eager to get back into the market with 30% saying they would be likely to put their house up for sale at the first sign of a market rebound. 

This is great news for anyone looking for a new home in Austin.  Buffington Signature Homes currently has great incentives on new homes in Round Rock and Cedar Park, but these incentives won’t last long. Right now is the best time to buy a new home.

Despite growing foreclosure rates nationwide, Austin’s housing market remains balanced.  According to Roselind Hejl, a realtor for Coldwell Banker United, Austin’s inventory as a whole stands at 5.9 months of supply which is a medium level of inventory, indicating a balanced real estate market. 

Out of the 54 reviewed geographical sections of Austin, the vast majority were classified as balanced or buyer’s markets.  This is good news for anyone looking for new homes in Austin.  Interest rates are better than ever and Austin has seen little or no serious depreciation; the stigma of growing foreclosures has not seriously affected Austin and there has been no widespread job loss. 

Overall, the Austin housing market remains balanced and it is a great time for buyers to capitalize on the situation.

This May there are a variety of events taking place in Austin, Texas that will feature the best of local food, live music, arts and culture.  Here is a selection of Austin events to check out this month.

29th Annual Pecan Street Spring Arts Festival
May 2nd & 3rd 
Downtown Austin
www.oldpecanstreetfestival.com
How about starting the month off right by attending one of the best Austin festivals of the year? The Pecan Street Spring Arts Festival is back for its 29th year, and with 150,000 expected to attend, it will be better than ever. 250 artisans from all over the U.S., stretched along the streets of downtown will be displaying their authentic, handmade arts and crafts. The day also includes live performances from local entertainers. Admission is free. 

Schlotzsky’s Bun Run 5K
May 3rd
Auditorium Stores
www.bunrun.com
Run your buns off in the 27th annual Schlotzsky’s 5K Bun Run race, the oldest 5K held in Austin.  This long-standing, Austin tradition has been going on since 1982.  Every year this event brings in a crowd of runners and walkers from the area and even includes a 5K Canine Bun Run for your dog.  Proceeds from the run benefit the Austin Sunshine Camp. 

Texas Brew-B-Que
May 9th
Waterloo Park
www.roadwayevents.com
The Texas Brew-B-Que makes its debut at Waterloo Park with a day of beer tasting, barbeque, live music and games.  Try beer from the Hill Country’s best brewers and sample bar-b-que from Central Texas restaurants.  There will also be live performances from Texas country musicians.  Tickets are $15 at the gate.
 
Mother’s Day in the Park
May 10th
Zilker Hillside Theatre
www.asband.org
If you’re looking for something to do for your mother on Mother’s Day, take her to Mother’s Day in the Park, where the Austin Symphonic Band will perform a free concert at Zilker Hillside Theatre.  The performance will include a variety of well-known songs in a tribute to the mothers in our lives.  This is a free concert, so there will be limited seating.  Be sure to arrive early.

8th Annual Texas Greek Festival
May 29th & 30th
Fiesta Gardens
www.texasgreekfestival.com
If you’re looking for a taste of the fabulous Greek lifestyle, check out the 8th Annual Texas Greek Festival taking place at Fiesta Gardens.  This is a celebration of Greek food, music and culture in Austin.  Bring the family and catch a Greek “bouzoiki” band with traditional music and dancing.  Children’s activities include booths with face painting and games.  Tickets are $10 at the gate.

2009 Austin Wine Festival
May 23rd – 25th
The Domain
www.austinwinefestival.com
Spend Memorial Day weekend trying out the region’s best wine selections at the 2009 Austin Wine Festival held at The Domain.   Last year over 6,500 wine lovers from all over the country attended the event and this year will be no different.  Over 30 Texas wineries from areas of Lampasas, Fredericksburg and Dripping Springs will provide their finest wines to sample and purchase.  Attend the all-day wine and food demonstrations and listen to live music. Tickets to the event can be purchased on their web site. 

May is a great time to start your search for new homes in Austin.  Buffington Signature Homes has custom homes available in their seven select communities in the Austin area including Leander, Cedar Park, and Round Rock.  For more information about these communities and finding new homes in Austin visit www.buffingtonsignaturehomes.com today.

Austin takes the No. 1 spot in the country for job growth potential, according to NewGeography.com.  Rounding out the top five are Houston, San Antonio, Fort Worth-Arlington, and Dallas.  Overall, the job market outlook in Texas is brighter than anywhere else in the country.  Austin earned the top spot by posting a one percent job growth rate in 2008 and its long term potential to create new jobs.  Although one percent does not seem like much progress, it is much better than a lot of other major metropolitan areas.

In past years, many fast-growing economies in major cities would create new jobs at three to five percent annually.  While not all cities were growing at this rate, in fact some were losing jobs or staying stagnant, growth was within reach or at least on the horizon.  In 2008, a two percent annual growth rate was considered a home run.

While the forecast seems grim, Austin and the rest of Texas are growing slowly but surely in the face of the recession.  According to a report prepared by the General Contractors of America, the economic impact of stimulus investment in Texas would add $2.7 billion to the state’s gross domestic product and could allow for more than 8,000 construction jobs to be created.  This kind of growth would result in the increase of new homes in Austin and have a positive effect on Austin home builders.  Not to mention the impact it would have on the growth of Round Rock real estate and the construction of new homes in Cedar Park.

Austin’s ranking as the number one city in the country for job growth potential is a definite sign that the local economy is still strong despite the national recession.  The fact that Texas claimed the top five cities on the list is significant because it shows that statewide the job market is sturdy and that Texas is a good place to seek employment potential.

Events in Austin aren’t hard to find because in a city like this there is something going on just about everyday.  This month Austin is a host to some of the most popular events of the year.  Here is a list of events that are fun for the family and only a short drive away.  

Avenue Q
April 15 – 19
Bass Concert Hall
http://www.utpac.org/events
Don’t miss AVENUE Q, the 2004 Tony Award® winner for Best Musical, Score and Book, as they make a stop at the Bass Concert Hall for a weekend of shows this April. The cast features a combination of people and puppets (show not for kids) as they try to make it in New York City with big dreams and a tiny bank account.  Get your tickets online and check out any of the eight mega-hit shows. 

Texas Hill Country Wine & Food Festival
Apr 16 - Apr 18
http://www.texaswineandfood.org/
Taste the unique food and wine inspired by Texas cultural and culinary influences at the 24th Annual Texas Hill Country Wine & Food Festival.  Presented by Whole Foods Market, this festival is spread over four days with over 10 different events, each with their own outstanding turnout of the region’s best chefs, restaurants and wineries.  Visit their website to purchase tickets and read more about each event. 

UT Men’s Baseball vs. Oklahoma
April 18
2:00
Disch-Falk Field
http://www.texassports.com/
As baseball fans out there know, one of the best things about April is that baseball season is now in full swing.  Grab the kids and come out to the newly renovated Disch-Falk Field as the University of Texas Men’s Baseball Team takes on rival Oklahoma. Like those longhorns say, “come early, be loud, stay late, and wear Orange!”

Muster Day 2009 - American Heroes Celebration
April 18 – April 19
Camp Mabry
http://www.texasmilitaryforcesmuseum.org
Muster Day 2009, hosted by Camp Mabry, is a two-day event with historic weapon firing demonstrations, military vehicle rides, live music, the American Heroes air show, and more.  There will also be several live demonstrations of our nation’s wars including a WWII and Vietnam Reenactment battle like you’ve never seen. This event is free for admission and is fun for all ages. 

George Lopez
April 24 – 25
Bass Concert Hall
http://www.utpac.org/events
Catch one of the premier comedians from the entertainment industry, George Lopez, as he makes a stop at Austin’s Bass Concert Hall from his sell-out country tour.  As a comedian, writer, producer and star of his hilarious self-titled television show on Warner Brothers, George Lopez has put together a hilarious stand-up that will keep you laughing till the curtains close.

Eeyores 46th Birthday Party
April 25
Pease Park
www.eeyores.com
Get ready for one of the strangest events in Austin all year long.  Don’t believe me, see for yourself.  Wear a costume of your choice and join Austin residents as they celebrate Eeyore’s birthday (yes I said Eeyore) with a party filled with food, drinks, and live music.  Funds from the event go to a great cause benefiting various non-profit groups in Austin. 

Austin Real Estate Update
In a recent Forbes article, Austin was the ranked 8th in the “Best Places for Business and Careers” up from a 47th ranking last year.  Austin’s annual job growth rate of 2.3% is the fifth fastest in the country and is said to have been attributed to their “business-friendly” reputation. What does this mean for the Austin real estate market? Austin’s outstanding job growth has now breathed life into the stagnant real estate market and experts have noticed real estate in Austin is building momentum.  Along with dropped housing prices and low interest rates, builders like Buffington Signature Homes are also adding additional incentives on top of their exceptional selection of new homes in Austin.

If you are interested in checking out new homes in Austin in any one of Buffington’s seven premier communities check out www.buffingtonsignaturehomes.com today.