Austin-area home starts up 8 percent in 3Q 2015

​​​​​AUSTIN-ROUND ROCK – Home building activity in Central Texas rose nearly 8 percent in the third quarter 2015 as builders scrambled to make up for lost time due to inclement weather earlier in the year, stated industry tracking firm Metrostudy .

Home builders started construction on 3,530 houses in 3Q, a 7.95 percent increase from 3Q 2014, according to the study that tracked home starts in Travis, Williamson, Hays, Bastrop and Caldwell counties.

Builders started work on 11,555 houses in the 12 months that ended in September, a 7.6 percent increase from the 10,735 starts in the prior 12-month period.

Affordability remains a significant issue in the Austin metro area as prices in the new home and resale markets continue to rise, Steve Plevak, regional director of Metrostudy’s Austin office said.

The median price of new homes was $267,613 in 3Q, up 5 percent compared with 3Q 2014. The median price of pre-owned homes was $263,100, up 8 percent over last year.​