Metrostudy’s Quarterly Residential Survey in the Austin region indicated there were 6,545 new home starts in the last year, a 19 percent increase from a year ago. The increased starts total is the result of increasing demand, as well as very low inventory levels for new homes.
Metrostudy counted 1,105 finished and vacant new homes at the end of second quarter 2012, the lowest total since 1Q 2001.
The biggest challenge for builders in the Austin market is the tight supply of finished lots in the most desirable areas. While the Austin region as a whole has a 30-month supply of developed lots, in some areas there is less than a 15-month supply of lots.
Read more...Austin housing market accelerates via Real Estate Center at Texas A&M University
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