Austin’s housing market continues down its path to recovery as starts, inventory, and sales continue to rise, according to the Austin Business Journal.
Strong job and economic growth coupled with attractive mortgage rates are encouraging prospective homebuyers to enter the Austin market.
Home starts, inventory, and closings were up in 2014 compared to the previous year, despite still-tight housing supply and fears of a Texas recession due to falling oil prices. New home inventory was at 7,279 units at the end of December, an increase in 46 units year-over-year. There were 12,354 new home starts through Dec. 31, an increase of 24 percent from 2013.