A couple of weeks ago I wrote about the strength and optimism of the multifamily residential market in the Austin/Central Texas market. I promised to keep an eye on this and report further news. Today, this article indicates the same kind of confidence nationally.
In early February I wrote about rising rents and planned construction in the Austin/Central Texas multi-family residential sector. This morning’s Austin American-Statesman featured an article showing specific evidence of that confidence.
As the national economic recovery takes hold, Austin’s outlook will continue to improve, leading to more jobs, more in-migration, more builder confidence, and real growth in building permits. We may have another dip in front of us this year, but I expect the climb in the 12-month moving average shown above to be a sign of things to come this year and next. I believe that 2011 will mark our transition into another growth cycle in 2012.
A couple of days ago I received some questions on one of my blogsites about my Austin Market Dashboard. It strikes me that others may have the same questions … Continue reading
This was a cash purchase of 440 acres in just one subdivision, a huge commitment to building in Crystal Falls. It also represents a very important vote of confidence in future demand for new homes in our area.
Much of what I have written about the “state of the market” in and around Austin has focused on resale homes. New construction is obviously an important part of the market, and it’s a great barometer for confidence in the local economy, job growth, investment opportunities, etc. Continue reading