Metrostudy: new home sales strong in Austin; prices riseMetrostudy: new home sales strong in Austin; prices risehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=36842014-07-08T15:43:00Z2014-07-08T06:30:00Z

AUSTIN - New home sales across the United States soared to six-year highs in May, and the situation appears equally robust in Austin, according to Metrostudy.

Austin builders closed 2,446 homes during second quarter 2014, a 10 percent increase compared to 2Q 2013.

For the 12 months ending June 30, builders have sold 9,203 homes in Austin, a 14 percent increase over the previous 12-month period.

Builders started 2,688 homes in 2Q 2014 and 9,716 in the past 12 months. There are now 4,924 homes complete and ready for purchase, or a 6.4 month supply.

More homes are being built in higher price ranges. Increased permitting and development costs are making it increasingly difficult to build homes priced below $150,000, which is what is typically considered affordable for first time homebuyers.

Austin Business Journal
Austin-Round Rock
http://www.bizjournals.com/austin/blog/real-estate/2014/07/metrostudy-new-home-sales-stay-strong-in-austin-as.htmlRead more at {Source}

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