The Austin area is breaking records again for highest levels on records for home starts by ranking number two for overall numbers.
According to Metrostudy in 2017 home starts came in at 16058 which was up 2.7 percent from the prior year.
This is great news for home builders who are continuing to build in full force in the new and existing developments in and around the Austin area. This is to keep up with the demand in the Austin market which is anticipated to be very high for the Spring of 2018. Many home builders have reported record home sales in Austin for 2017 even.
Despite any obstacles facing the Austin area currently such as potentially rising mortgage interest rates increased labor costs on these new homes and the cost of homes outpacing what some people may consider affordable the estimates and projections for Austin are high as the demand for quality homes in Austin continues to rise.
As demand for homes continue on an upswing builders are fast in pace to keep up with the demand in the robust Austin housing market.
Austin Area Home Starts by Price (Source: Metrostudy)
- $100000 to $200000 — 915
- $201000 to $249000 — 3638
- $250000 to $299000 — 4244
- $300000 to $349000 — 2344
- $350000 to $399000 — 1552
- $400000 to $499000 — 1689
- $500000 to $699000 — 1075
- $700000 and up — 482
Article Source: Austin Statesman