Robust housing starts still cranking up in 1Q 2014 Austin

AUSTIN – Demand for housing in the city is cranking up the velocity of home starts, according to Metrostudy in Austin. During first quarter 2014, there were 2,209 new detached single-family home starts, a 16 percent increase from 1Q 2013.

During the past 12 months, builders have started 9,668 houses or 15 percent more year-over-year. Lot supply has dropped to 14,219. That’s about 17.6 months of supply, meaning demand is outstripping supply.

Sales closing were a little less impressive for the first three months — 2,045 or a 2 percent increase over the same time period in 2013. However, for the last four quarters, builders have closed on 8,916 homes, a 19 percent increase over the previous four quarters.