Relos Are Down
The number of people moving to Austin has slowed. When people ask why the real estate market has slowed down locally, this is one of the points I mention. But I was basing it on what I observed, without concrete evidence. Well, I have that evidence now. Opportunity Austin, an economic development organization, says that we’re on pace to create the fewest jobs through relocations and expansions since 2013 with a total that is a little under 10,000 jobs. There are a variety of possible reasons including deteriorating economic conditions, competition from other states, and the rising cost of living in Central Texas. Even though we’re down this year, the five-county area is still outpacing both the rest of Texas and the country as a whole in job creation. So we’re still doing well and shouldn’t be too worried.