Residential construction booming in Austin, TX
Posted Jun 27, 2007 @ 7:41 pm, Viewed by 643 Visitors, Read 728 Times.
The Austin, Texas new home construction market continues to be strong according to Builder Magazine. Austin ranks 11th in the country for new construction starts, at 26,900, and home prices have been increasing in the last couple of years. The top builders in Austin by volume are Lennar, DR Horton, Pulte, Centex, and KB Home. Unemployment is low, and foreclosures are at 4 year lows. The city also expects to add approximately 20,000 new jobs for '07.
At the same time the downtown Austin market is seeing tremendous changes with the construction of many new high rise residential condo towers, several of which will be much taller than any of the buildings currently standing in downtown Austin. The 360 Condos building will rise 44 stories when complete; the Austonian will top out at 55 stories! Currently the tallest building in Austin is the Frost Bank Tower at 33 stories.
Austin's real estate boom has been a little behind with the rest of the country, but it is better late than never!
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Jim Olenbush is the Broker and Owner of Cantera Real Estate, Inc. in Austin, Texas. Jim has 12 years of experience in the Austin market and leads a team of 6 experienced agents. Read More
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