Austin home starts rise in 3Q 2013

AUSTIN – The housing market continues to roll in Central Texas as builders started construction on more than 2,639 homes in third quarter 2013 — up 12 percent from the same quarter last year, according to a quarterly report by Metrostudy.

The new total for the 12 months that ended in September is 9,290 starts. This pace is 30 percent higher than the 12 months that ended in September 2012.

Meanwhile, low supplies of new, resale and rental housing continues to strengthen pricing in the region. The Federal Housing Finance Agency reported that houses in the Austin area rose 7.7 percent in value during the last 12 months.

The median new home price in 3Q 2013 was nearly $247,000, an 8 percent increase from the previous year.

Read more at the Austin American-Statesman.