It should be no secret by now that Austin and its surrounding areas have fared well throughout the recession. The city has been named to numerous Top Ten lists in magazines such as Forbes, and online on various websites. The plans for downtown reconstruction and remodeling will only serve to increase the city’s charm for businesses and residents alike. Austin did not share in the nation’s real estate boom several years ago, so while many comparable cities have faced huge losses in home values, Austin has not fallen quite so hard. There has been a slowdown in the real estate market, of course. Houses have sat longer than in previous years, but affordability and location have kept people looking to Austin for a place to settle. This week, the Federal Housing Finance Agency released a report stating that Texas home prices increased by just over 2% in 2008. The Austin-Round Rock area actually increased home prices by 4.4%, according to the same report. January saw an increase in home sales for the area. While many economists believe that 2009 will be a bleak year, it is important to note that the Austin economy is in better condition when compared to the nation. The bottom of the real estate crisis is expected this year, with home values and prices beginning to increase in 2010, according to many experts. Austin has maintained so well due to many factors. As previously mentioned, the housing bubble did not exist here. Homes in the last several years were in high demand, while supply was limited. Add to this the fact that Austin actually managed to create about 20,000 new jobs in the past year. The unemployment rate here is less than 4%. The Austin area is expected to emerge from this recession well above many other similarly sized cities throughout the nation.