Austin: New and Notable – 2Q2017
Supply is way up, there are more homes under construction here in Austin than there have been since we started counting. 6,218 homes with sticks in the air. So that supply is really growing and it’s a response to huge demand that we’ve had over the past few years. What’s more, there are more lots under way now than we’ve ever counted before as well. 17,725 lots were delivered in the past 12 months. Most of those were in key submarkets like Cedar Park/LeanderWest, Manor Kyle-Buda, and Pflugerville. So those are the hot submarkets associated with the community grounds. What we’ll be watching going forward is to make sure all of those homes under construction today get sold to happy home buyers.