AUSTIN (Austin Board of Realtors) – The city’s housing market continued its recovery in 2012, with strong increases in sales for both previously owned homes and new homes.
That was the message at today’s Fifth Annual Housing Forecast, cohosted by the Home Builders Association of Greater Austin and the Austin Board of Realtors.
Activity is expected to remain strong in 2013 as robust job growth, rising apartment rents and historically low mortgage interest rates result in more demand for housing in the Austin region.
“For 2013, Metrostudy expects new home starts in the region will increase again over last year’s total,” said Eldon Rude, director of the Austin market for Metrostudy, a provider of primary and secondary housing market information.
Metrostudy’s most recent residential survey indicated there were 7,981 new single-family home starts in the Austin region in 2012. This represents over a 30 percent increase in starts from 2011.
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