Apple Announces New Austin Billion Dollar Campus.
Big new today coming out of Austin, Texas. Today is December 13, 2018 and Apple just announced.that they are going to be building a one billion dollar campus in North Austin.
This move is going to mean 5,000 new jobs flooding into the area when it opens. And, that campus could eventually hold 15,000 new employees.
How is this going to affect Cedar Park and Austin real estate? Read on.
This announcement today means that Apple is going to add to it’s two campuses that are already here in Austin. This new campus will be less than a mile away from the existing North Austin campus which is in my market area.
These new jobs will mean the largest Apple population outside of its headquarters in Cupertino, CA. Other cities benefiting from Apple’s growth include Seattle, San Diego, and Culver City.
Austin recently lost the bid for Amazon’s new distribution center which would have brought in 50,000 new jobs, And, frankly, many are happy about that. It’s doubtful that our housing market could have withstood that demand. It would also have strained our infrastructure.
However, Apple’s plans are good news for our economy and real estate market. How so?
- More people are going to be coming to Austin to fill those jobs. This is going to be in addition to the 130 people per day net gain we’ve seen for some time now. More people are coming to Austin.
- This is going to add to our already strong economy which is good for the real estate sector.
- There will be more demand for housing inventory.
The lack of inventory in recent years has driven up housing prices in Austin. Recently we’ve seen inventory beginning to increase and prices starting to soften. This move is mean more rising prices and is good news for Sellers.
If you are thinking of buying a home in the area it would be wise to do so sooner rather than later.
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