Austin Home Sales Gaining Strength

It's showing signs of a possible rebound, but the Austin home market remains sluggish.
Single-family home sales in the metro area totaled 2,154 in May, down 20 percent compared with May 2007, according to data from the Austin Board of Realtors. However, the May figure is the highest number of total sales the area has experienced in eight months.

Austin is not seeing the drastic price drops that many other markets around the country have experienced. The average price for a single-family home stood at $263,151 in May, up 5 percent from a year ago.

"Despite economic conditions across the nation, Austin continues to have a relatively low unemployment rate and cost-of-living index," says ABoR Chairman Socar Chatmon-Thomas. "While we're not enjoying the booming real estate markets of 2006 and 2007, we have seen steady increases in sales volume since January 2008."
Pending single-family home sales totaled 1,418 in May, down 55 percent from May 2007. New listings for the month were down 7 percent from a year ago.
Townhome and condo sales are also on the downswing. A total of 239 units were sold in May, a 24 percent decline from a year ago.

from: Austin Business Journal

50 Reasons to Love the USA: Austin Music!

Texas:

Because you don’t have to be 22 to get excited about Austin’s music scene. Known as a mecca for the indie–music set (thanks to the annual South by Southwest festival in March), Austin now has a venue for Bach, Mozart, and Stravinsky as well. On the edge of Lady Bird Lake, the Long Center for the Performing Arts (701 W. Riverside Dr.; 512/474-5664; thelongcenter.org) houses the city’s ballet company and symphony orchestra. The performance hall, designed by Nelsen Partners and Zeidler Partnership Architects, is in tune with Austin’s unconventional spirit—70 percent of the structure was made from recycled materials, including the gigantic concrete ring that encircles the central building like a halo. On the lineup this summer: Austin’s Chamber Music Festival, the Austin Shakespeare Festival, and free weekend symphony performances on the public terrace.

Travel & Leisure's state-by-state guide to fun summer travel.
updated 8:43 a.m. CT, Thurs., June. 19, 2008

Best Cities to Live, Work and Play

These ten great places will only get better.

Our approach this year to picking the ten best cities in which to live and work was simple: Look for places with strong economies and abundant jobs, then demand reasonable living costs and plenty of fun things to do. When we ran the numbers, some of the names that popped up made us do a double take at first. So we hit the road to meet movers, shakers and regular folks, experience the ambience and take in the sights.

We discovered that our numbers guru, Kevin Stolarick, hadn't steered us wrong. Stolarick, research director at the Martin Prosperity Institute, a think tank that studies economic prosperity, says: "Our formula highlights cities not just with strong past performance, but also with all the ingredients for future success." One key to a bright future is a healthy shot of people in the creative class. People in creative fields -- scientists, engineers, architects, educators, writers, artists and entertainers -- are catalysts of vitality and livability in a city.

The cities that made our list also represent larger surrounding areas. And because we understand that city living isn't for everyone, we've highlighted some great suburbs, too.

Pack a bag and join us on a tour of the Best Cities for 2008 and prepare for some surprises.

1. Houston
Population: 5,542,048
Population Growth Since 2000: 14.9%
Percentage of Workforce in Creative Class: 31.3%
Cost-of-Living Index: 88.1 (100 being national average)
Median Household Income: $50,250
Income Growth Since 2000: 13.1%

2. Raleigh
Population: 995,662
Population Growth Since 2000: 19.9%
Percentage of Workforce in Creative Class: 36.1%
Cost-of-Living Index: 99 (100 being national average)
Median Household Income: $56,150
Income Growth Since 2000: 10.3%

3. Omaha
Population: 821,356
Population Growth Since 2000: 6.6%
Percentage of Workforce in Creative Class: 30%
Cost-of-Living Index: 89.4 (100 being national average)
Median Household Income: $51,627
Income Growth Since 2000: 15.1%

4. Boise
Population: 568,086
Population Growth Since 2000: 18.2%
Percentage of Workforce in Creative Class: 33.2%
Cost-of-Living Index: 95.5 (100 being national average)
Median Household Income: $49,833
Income Growth Since 2000: 16.6%

5. Colorado Springs
Population: 600,444
Population Growth Since 2000: 10.5%
Percentage of Workforce in Creative Class: 34.1%
Cost-of-Living Index: 95.3 (100 being national average)
Median Household Income Since 2000: 53,486
Income Growth Since 2000: 16.1%

6. Austin
Population: 1,506,425
Population Growth Since 2000: 17%
Percentage of Workforce in Creative Class: 36.5%
Cost-of-Living Index: 92.8 (100 being national average)
Median Household Income: $52,882
Income Growth Since 2000: 12.2%

7. Fayetteville
Population: 419,455
Population Growth Since 2000: 17.3%
Percentage of Workforce in Creative Class: 31.4%
Cost-of-Living Index: 90.4 (100 being national average)
Median Household Income: $42,267
Income Growth Since 2000: 17.6%

8. Sacramento
Population: 2,067,117
Population Growth Since 2000: 13.1%
Percentage of Workforce in Creative Class: 34%
Cost-of-Living Index: 121.7 (100 being national average)
Median Household Income: $56,953
Income Growth Since 2000: 19.1%

9. Des Moines
Population: 532,425
Population Growth Since 2000: 9.6%
Percentage of Workforce in Creative Class: 32.1%
Cost-of-Living Index: 90.6 (100 being national average)
Median Household Income: $53,384
Income Growth Since 2000: 16.3%

10. Provo
Population: 474,351
Population Growth Since 2000: 20.6%
Percentage of Workforce in Creative Class: 32%
Cost-of-Living Index: 97.7 (100 being national average)
Median Household Income: $50,583
Income Growth Since 2000: 12.2%

Wednesday, June 4, 2008, provided by www.kiplinger.com

31 Places to Go This Summer

1. TEXAS HILL COUNTRY
“Who needs Europe? The Texas Hill Country, west of Austin and north of San Antonio, might be the next best thing to crossing the Atlantic. The region is lush, colorful and, unlike much of the pancake-flat state, dotted with beautiful green hills that are evocative of Tuscany or the south of France. Moreover, the region is speckled with 22 wineries (http://www.texaswinetrail.com/) that buzz with food and music festivals year round. And towns like Fredericksburg offer a taste of the Old World, with German-style biergartens and schnitzelhäuser.”

New York Times: 6/1/2008