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You are here: Home / Market Analysis / Weaker Austin Housing Market May Lead to Tight Future Supply
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Weaker Austin Housing Market May Lead to Tight Future Supply

towers staff March 24, 2009 Comment

Angelos Angelou, a local Austin economic guru, commented recently on the long-term effects of the current housing slow down. With tight credit, reduced transaction volume, and a slight dip in housing prices, builders have reacted by dramatically cutting the number of new housing units under development. From 2007 to 2008, Austin housing started plunged 55% from 18,000 to 8,100. This number is predicted to be as low as 6,000 this year.With more than 40,000 new residents arriving in Austin each year, new housing units are very quickly absorbed. Since housing prices are determined by . . .

 

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610 Davis ST #4704
Austin, TX
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$5,294,000
40
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    3,285 sqft

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    5 Beds

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    5.5 Baths

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