6. Economic Indicators
JANUARY 2010
Except where noted, data is
not seasonally adjusted.
NEW PRIVATELY-OWNED HOUSING UNITS AUTHORIZED BY BUILDING PERMITS
Number of housing units Valuation (millions)
Total Single-family Multifamily Total Single-family Multifamily
Austin MSA
2007 19,903 12,120 7,783 $2,839.260 $2,067.311 $771.949
2008 11,792 7,710 4,082 1,845.720 1,341.901 503.819
2008 YTD5 13,130 7,736 5,394 1,928.678 1,330.136 598.542
2009 YTD 8,241 6,180 2,061 1,159.880 993.437 166.443
2008 Oct 815 508 307 120.743 95.984 24.759
2008 Nov 713 281 432 83.757 54.364 29.393
2009 Oct 476 469 7 81.160 80.740 0.420
2009 Nov 626 374 252 87.747 71.351 16.396
% Change
2007-2008 -40.8% -36.4% -47.6% -35.0% -35.1% -34.7%
YTD 2008-2009 -37.2 -20.1 -61.8 -39.9 -25.3 -72.2
Nov ‘08-Nov ‘09 -12.2 33.1 -41.7 4.8 31.2 -44.2
Oct ‘09-Nov ‘09 31.5 -20.3 3,500.0 8.1 -11.6 3,803.8
United States
2007 1,398,415 979,889 418,526 $225,236.6 $183,679.2 $41,557.4
2008 905,359 575,554 329,805 141,623.5 110,687.4 30,936.1
2008 YTD 864,135 550,998 313,137 133,476.6 104,918.3 28,558.3
2009 YTD 524,243 400,686 123,557 86,651.0 75,153.6 11,497.4
2008 Oct 63,691 40,390 23,301 9,765.1 7,840.8 1,924.3
2008 Nov 41,480 26,197 15,283 6,389.2 5,029.8 1,359.4
2009 Oct 46,525 37,899 8,626 8,148.0 7,374.3 773.7
2009 Nov 40,747 31,376 9,371 6,949.2 6,108.8 840.4
% Change
2007-2008 -35.3% -41.3% -21.2% -37.1% -39.7% -25.6%
YTD 2008-2009 -39.3 -27.3 -60.5 -35.1 -28.4 -59.7
Nov ‘08-Nov ‘09 -1.8 19.8 -38.7 8.8 21.5 -38.2
Oct ‘09-Nov ‘09 -12.4 -17.2 8.6 -14.7 -17.2 8.6
Source: U.S. Bureau of the Census (www.census.gov/const/www/permitsindex.html).
NAHB/WELLS FARGO HOUSING OPPORTUNITY INDEX (HOI)
Austin MSA United States
Median Median Weighted
Median Median
HOI6 family HOI family interest
sales price sales price
income income rate
2007 $202,500 55.2 $69,300 $236,000 43.9 $59,000 6.50%
2008 184,500 63.5 69,100 207,475 56.8 61,500 6.14
2008 YTD 187,333 62.3 69,100 213,300 55.0 61,500 6.18
2009 YTD 182,000 74.1 73,300 177,167 71.6 64,000 5.17
2008 Q2 186,000 63.4 69,100 215,000 55.0 61,500 6.12
2008 Q3 185,000 61.9 69,100 205,900 56.1 61,500 6.39
2009 Q2 186,000 73.4 73,300 177,000 72.3 64,000 5.03
2009 Q3 183,000 74.0 73,300 179,000 70.1 64,000 5.33
Change
2007-2008 -8.9% 15.0% -0.3% -12.1% 29.4% 4.2% -5.5%
YTD 2008-2009 -2.8 18.9 6.1 -16.9 30.2 4.1 -16.3
Q3 '08-Q3 '09 -1.1 19.5 6.1 -13.1 25.0 4.1 -16.6
Q2 '09-Q3 '09 -1.6 0.8 0.0 1.1 -3.0 0.0 6.0
Source: National Association of Home Builders (http://www.nahb.org/hoi).
Page 6 of 8
http://www.austinchamber.com/DoBusiness/MediaCenter/Indicators.html
7. Economic Indicators
JANUARY 2010
Except where noted, data is
not seasonally adjusted.
EXISTING HOME SALES, LISTINGS & PRICES
Months
Sales Dollar volume Average price Median price Total listings
inventory
Austin MSA
2007 28,048 $6,910,962,480 $246,400 $184,200 9,833 4.0
2008 22,440 5,470,518,171 243,800 188,200 11,585 5.5
2008 YTD 21,020 5,129,310,211 242,636 ― 11,721 5.6
2009 YTD 19,339 4,558,536,214 234,782 ― 10,934 6.5
2008 Oct 1,444 345,831,114 239,500 188,500 11,635 5.9
2008 Nov 1,089 251,409,268 230,900 180,100 10,869 5.7
2009 Oct 1,930 450,170,770 233,200 179,700 10,300 6.1
2009 Nov 1,745 405,992,592 232,700 176,300 9,836 5.7
% Change
2007-2008 -20.0% -20.8% -1.1% 2.2% 17.8% 37.5%
YTD 2008-2009 -8.0 -11.1 -3.2 ― -6.7 16.1
Nov ‘08-Nov ‘09 60.2 61.5 0.8 -2.1 -9.5 0.0
Oct ‘09-Nov ‘09 -9.6 -9.8 -0.2 -1.9 -4.5 -6.6
United States
2007 5,652,000 ― $266,000 $219,000 ― 8.9
2008 4,913,000 ― 242,700 198,100 ― 10.5
2008 YTD 4,552,000 ― 243,545 ― ― 10.5
2009 YTD 4,743,000 ― 217,136 ― ― 8.9
2008 Oct 413,000 ― 229,600 186,400 ― 10.2
2008 Nov 322,000 ― 223,000 180,300 ― 11.0
2009 Oct 498,000 ― 217,300 172,200 ― 7.0
2009 Nov 472,000 ― 216,400 172,600 ― 6.5
% Change
2007-2008 -13.1% ― -8.8% -9.5% ― 18.0%
YTD 2008-2009 4.2 ― -10.8 ― ― -15.2
Nov ‘08-Nov ‘09 46.6 ― -3.0 -4.3 ― -40.9
Oct ‘09-Nov ‘09 -5.2 ― -0.4 0.2 ― -7.1
Sources: Real Estate Center at Texas A&M University (http://recenter.tamu.edu) & National Association of Realtors
(www.realtor.org/Research.nsf/Pages/EHSdata).
Page 7 of 8
http://www.austinchamber.com/DoBusiness/MediaCenter/Indicators.html
8. Economic Indicators
JANUARY 2010
Except where noted, data is
not seasonally adjusted.
OFFICE & INDUSTRIAL REAL ESTATE MARKET7
Austin National
Inventory Vacant Average rental Average rental
Vacancy rate Vacancy rate
(sq. ft.) (sq. ft.) rate rate
Office
2007 72,939,677 8,490,412 11.6% $25.24 10.8% $24.86
2008 76,747,339 10,429,331 13.6 25.32 11.9 25.01
2008 YTD 75,694,438 9,525,725 12.6 25.86 11.6 25.30
2009 YTD 78,158,873 11,599,118 14.8 25.39 13.2 23.98
2008 Q2 74,791,272 8,781,496 11.7 26.35 11.3 25.40
2008 Q3 75,694,438 9,525,725 12.6 25.86 11.6 25.30
2009 Q2 77,611,506 11,720,294 15.1 25.61 12.9 24.33
2009 Q3 78,158,873 11,599,118 14.8 25.39 13.2 23.98
% Change
2007-2008 5.2% 22.8% 17.2% 0.3% 10.2% 0.6%
YTD 2008-2009 3.3 21.8 17.5 -1.8 13.8 -5.2
Q3'08-Q3'09 3.3 21.8 17.5 -1.8 13.8 -5.2
Q2'09-Q3'09 0.7 -1.0 -2.0 -0.9 2.3 -1.4
Industrial
2007 78,551,315 7,799,694 9.9% $7.72 8.0% $6.22
2008 81,087,114 9,179,278 11.3 7.74 8.8 6.29
2008 YTD 80,193,624 7,573,729 9.4 7.68 8.4 6.33
2009 YTD 81,937,061 10,821,160 13.2 7.12 10.2 5.95
2008 Q2 79,686,322 7,796,383 9.8 7.54 8.5 6.31
2008 Q3 80,193,624 7,573,729 9.4 7.68 8.4 6.33
2009 Q2 81,486,036 10,211,422 12.5 7.36 9.8 6.08
2009 Q3 81,937,061 10,821,160 13.2 7.12 10.2 5.95
% Change
2007-2008 3.2% 17.7% 14.1% 0.3% 10.0% 1.1%
YTD 2008-2009 2.2 42.9 40.4 -7.3 21.4 -6.0
Q3'08-Q3'09 2.2 42.9 40.4 -7.3 21.4 -6.0
Q2'09-Q3'09 0.6 6.0 5.6 -3.3 4.1 -2.1
Source: CoStar Group.
1
These indexes summarize movements in locally measured nonagricultural employment, the unemployment rate,
inflation-adjusted wages and inflation-adjusted retail sales.
2
The allocation historical summaries show the total dollars returned to a local sales taxing city, county, special
purpose district or transit authority by the Comptroller's office for their local sales tax collection. The payments are
listed by month and totaled by year. Allocation amounts are dependent upon the timing and accuracy of taxpayers'
returns, but generally represent taxes collected on sales made two months or more prior to the allocation payment.
3
Total passengers includes domestic and international revenue and non-revenue passengers. It is a total of
passengers enplaned, deplaned, and through.
4
Total cargo includes domestic and international enplaned and deplaned belly freight, mail, and cargo.
5
The Census Bureau publishes monthly data that it does not revise in light of later information that is incorporated
into YTD numbers. Similarly YTD numbers are not revised to incorporate later information that will be included in
final annual totals. Final 2008 annual permits for Austin are notably lower than indicated in the unrevised
published monthly and YTD numbers for 2008. The Real Estate Center at Texas A&M appears to adjust historical
monthly numbers to be consistent with later revisions. We’re not, presently, electing to replace the Census as the
source for this data in Economic Indicators, however, users comparing 2008 and 2009 may want to also consult the
data at http://recenter.tamu.edu/data/databp.html.
6
HOI is a measure of the percentage of homes sold in a given area during the quarter that are affordable to
families earning that area’s median income.
7
Annual numbers are year-end.
Page 8 of 8
http://www.austinchamber.com/DoBusiness/MediaCenter/Indicators.html