Housing market outgrows Northwest Austin landHousing market outgrows Northwest Austin landhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=83792013-02-01T14:02:00Z2013-02-01T00:00:00Z

NORTHWEST AUSTIN - Five new housing developments have accounted for about 80 percent of the new home construction in the Northwest Austin market from October 1, 2011 to September 30, 2012, according to the most recent housing data released by Metrostudy.

The Northwest Austin region saw 281 home starts during the same time frame, which is more than double from 2010 when 109 were recorded.

The new developments in the Northwest Austin region include Parmer Village, Pecan Park, Colina Vista, Versante Canyon, and Lake Creek Park.

The developments are indicative of the residential real estate climate in Austin, with local home starts up 30 percent since 2010-2011. There were 7,981 new single-family home starts for the Austin region and that number is expected to increase by 10 percent to 20 percent in 2013.

Several factors can be attributed to the real estate boom in Austin. According to Texas Workforce Commission statistics, 35,300 new jobs that were created from November 2011 to November 2012. Also, homebuyers’ confidence has grown as the recovery of the Home Price Index continues to improve.

Community Impact Newspaper
Austin-Round Rock
http://impactnews.com/articles/housing-market-outgrows-nw-austins-land/Read more at {Source}

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