Demand for new subdivision shows health of Austin’s housing Demand for new subdivision shows health of Austin’s housing https://www.recenter.tamu.edu/news/newstalk-texas/?Item=86862013-01-02T09:54:00Z2013-01-02T06:55:00Z

AUSTIN - It might have only 22 lots, but Streetman Homes says its Barstow Court subdivision in Southwest Austin is indicative of the strong housing demand in the Austin area amid a tight supply of homes for sale.

The Austin-based home builder was flooded with calls when it posted a sign in October announcing homes were coming soon — with prices starting in the mid-$200,000s — at the community at Barstow Avenue and Slaughter Lane in Circle C North, said Ryan Jackson of Streetman.

That’s when Streetman decided on an unconventional selling strategy: It would take reservations on a first-come, first-served basis, with a $1,000 refundable deposit that let prospective buyers reserve a spot in a home-site selection process that would take place in December.

At Barstow Court, homes will range from about $270,000 to about $360,000, with the average price of $310,000.

Before long, the list had grown to 104 interested buyers.

Eldon Rude, a local housing expert, has predicted that home starts in 2013 and 2014 in Central Texas could return to prerecession levels, with builders potentially starting on 8,000 to 11,000 new homes during each of those years.

In Central Texas, home starts were up 21 percent in the 12 months that ended in September compared with the 12-month pace at the end of September 2011.

Read more at the Austin American-Statesman.

Austin American-Statesman
Austin-Round Rock
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