07 May . 2019
Austin one of top 10 U.S. cities for home construction in 2019
A new analysis from Realtor.com notes how home construction is slowing down in many U.S. cities in 2019. “But hold on! There are still a number of markets in the country where foundations are being poured, frames are being erected, and contractors are contracting, everywhere you look,” the website writes.
To find out where new-home construction is thriving in 2019, the Realtor.com data team identified what it calls boomtowns for new construction. “These tend to be high-demand metropolitan areas with plentiful gigs, lots of amenities, and ample room to grow,” they say.
Realtor.com analyzed U.S. Census Bureau data to see where builders applied for the most residential construction permits. “They’re not an iron-clad guarantee that new housing will be completed an average of seven months later. But they’re the best indication that it will,” the website states.
Austin ranks No. 7 nationally on the list, with nearly 30,000 building permits and a median list price of $349,800 for new homes. Austin’s number of building permits grew by more than 15% in one year, one of the largest increases in the top 10 list.
Austin’s healthy real estate market bodes well for the city’s future. “Adding new homes is key to a city’s economic health,” said Robert Dietz, chief economist of the National Association of Home Buidlers, in the Realtor.com article. “Markets that add inventory keep housing affordable and in turn attract more businesses and startups in those areas.”
At Sweetwater, we’re doing our part to contribute to Austin’s healthy new home market. Discover our new homes, priced from the $300,000s to over $1 million by our best-in-class homebuilders.
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