New Home Construction in Central Texas Reaches Decade High
by Alex Lewis
on Friday, May 19th, 2017 at 10:33am.
The allure of living in Central Texas is reflected in decade-high new home construction rates. Recent real estate data shows that homes in the Greater Austin area are moving in a positive trend that could mean huge benefits for many families. Current and future homeowners have reason to look forward to these latest real estate climbs. Here are some simple details you should know:
Expect Lots Of New Homes:
Prepare to welcome a few new families to the neighborhood. Data by MetroStudy from 2016 and 2017 reveal that new residential housing in Central Texas has recently experienced some of the highest new construction rates of the past decade.
2016’s third quarter proved the highest new home construction rate in Austin since 2006. Similarly, 2017’s first quarter revealed that new home construction is again at its highest since 2007. This means that beautiful, brand new houses are expected to pop up in the coming years, further growing and diversifying this piece of Texas that so many of us enjoy.
People Are Buying Central Texas Homes:
Central Texas is a popular place to call home. New families arrive every day to take advantage of the local lifestyle that so regularly receives generous national attention. U.S. News and World Report even recently named Austin as the best place to live in the United States!
As no surprise to us, MetroStudy found that the Greater Austin area shows substantial growth to the percentage of real estate closings. Residents new and old agree that Austin is a wholesome place to watch children, pets, ideas, and communities grow.
Home Values Are On The Rise:
Interest grows for homes in Austin and nearby cities like Dripping Springs, San Marcos, Pflugerville, Georgetown and others. And with all of this interest, home values are on the rise. As cities welcome their new neighbors and anticipate new developments, many residents will likely experience substantial growth to the value of their homes. Many residents have already seen their mortgages turn into ambitious investments.
Cost-Friendly Construction Helps To Keep Housing Affordable:
The fast pace of local home values can make houses too expensive for median income families. Fortunately, the fight for the availability of affordable housing has been taken on by certain residential developers who want to keep Central Texas as a welcoming place to all. Their teams keep prices more economical by eliminating some of the unnecessary features that often drive up the cost of new houses.
Condominiums, duplexes, and other forms of more cost-friendly living options are also popping up across the Greater Austin area. Local developers are strategizing methods to ensure that houses remain affordable to anyone who wants to call this area their home.
If Central Texas has caught your attention, a JB Goodwin real estate agent can help you find the home that’s best for your family. You can start by browsing our extensive selection of San Antonio and Austin real estate. Let us be the first to welcome you to the Central Texas family.