I had the privilege to sit in on the 2017 Economic Forecast presented by local economist Angelos Angelou. To begin, the Austin Population is forecasted to increase by roughly 52,000 in 2017 and in 2018. We will reach 4 Million people by 2040. With 60,000 jobs that will be created in Austin over the next two years, Texas is expected to add 490,000 residents in 2017, increasing its population to 27.9 million. As a result, Austin is poised to be the fastest growing Metro in the US through 2040!
Naturally, the biggest threats to our growth is mobility and affordability. Austin economy is slowing, but don’t panic because this stabilization will help us sustain long term growth. As Angelou stated, ”I am very optimistic about the economic outlook for 2017 and 2018….If you are thinking about buying a house, don’t wait because home prices will continue to rise.”