Daily Briefing: 📈 Austin’s Economy: Stable & Growing - Dive into October’s Highlights!

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Here’s what you need to know about CenTex CRE Today:

1. Austin’s economy steady: 6.6% Business-Cycle Index growth, slight wage increase. 📈

Business and Economy

Austin Economic Indicators

Source: Real Estate Center at Texas A&M University

Summary: October 2023 economic indicators show a stable Austin economy with flat employment growth, steady unemployment, and a slight wage increase. The Austin Business-Cycle Index grew by 6.6%, although slower than September's 7.1%. Sectors experiencing growth include construction and mining, health and education, and business services while sectors such as leisure, hospitality, and manufacturing declined. Housing permits experienced a slight increase with home prices taking a dip.

Why this matters: This development underscores the ongoing balance between historic preservation and property owners' development rights in East Austin, a factor that commercial real estate professionals should consider when advising clients on potential purchases or developments in the area.