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Austin Chamber of Commerce 12 •07 State of the Economy • Real Estate Market • As presented to the

Austin Chamber of Commerce 12 •07 State of the Economy • Real Estate Market • As presented to the Keller Williams Agent Leadership Council. Real Estate Market Office. Source: NIA Direct, 2007 Global Market Report. Real Estate Market: Office 2 nd Quarter 2007. Source: Grubb & Ellis.

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Austin Chamber of Commerce 12 •07 State of the Economy • Real Estate Market • As presented to the

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  1. Austin Chamber of Commerce 12•07 State of the Economy • Real Estate Market • As presented to the Keller Williams Agent Leadership Council

  2. Real Estate MarketOffice Source: NIA Direct, 2007 Global Market Report.

  3. Real Estate Market: Office2nd Quarter 2007 Source: Grubb & Ellis.

  4. Real Estate Market: Industrial2nd Quarter 2007 Source: Grubb & Ellis.

  5. Favorable Real Estate Market Opportunities abound for growing companies with long-term expansion plans. Thanks to an abundance of office and industrial space and a wide variety of environmental characteristics, the region can accommodate nearly any operation, large or small. As of 2nd quarter 2007, Austin has over 7.4 million sq. ft. of vacant office space and an 12% vacancy rate. Space available in the industrial market totals over 7.4 million sq. ft. and the industrial vacancy rate is also 10%. Ample office space is available in a vibrant downtown as well as a variety of suburban markets. In addition, the area has several campus-style facilities and incubator space available for lease.

  6. Residential PermitsAustin MSA Nearly 21,600 permits were issued in the last 12 months (14,690 single family & 6,909 multifamily). Source: U.S. Bureau of the Census.

  7. Growth Rates: Housing Units Authorized by Building Permits Source: U.S. Bureau of the Census.

  8. Valuation of New Housing Units Authorized by Building PermitsAustin MSA Monthly average: 2005 $234M 2006 $262M 2007 $234M (YTD) Source: U.S. Bureau of the Census.

  9. Growth Rates: Valuation of Housing Units Authorized by Building Permits Source: U.S. Bureau of the Census.

  10. Residential PermitsAustin MSA Housing permits increased 31% in Austin in 2005 over 2004, compared to 5% nationally. Source: U.S. Bureau of the Census.

  11. Home SalesAustin MSA • In Austin, home sales were up 12.3% in 2006 over 2005. Sales were down 8.4% nationally. • YTD, Austin sales are 1.5% below last year & national sales are down 9.3%. Source: Real Estate Center at Texas A&M University.

  12. Residential Permits by County2006 Austin MSA Source: U.S. Bureau of the Census.

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