The beginning of the year is usually a good time for experts to interpret trends from last year and forecast trends for the new year. Many investors want to know how is the real estate market in Austin. To predict trends in this year’s real estate housing market, last week ABOR and Home Builders Association of Greater Austin held the Fourth Annual Housing Forecast, an event totally dedictated to discussing trends in the Austin real estate housing market in 2012. And so far it’s looking positive. Some even say that Austin’s housing market is the best real estate market to invest in 2012. It definitely helps that Austin is a Best Performing City going into 2012.
Austin’s upward trend in the housing market last year is expected to increase this year according to some housing forecast experts. Housing experts interpret that job growth and population growth along with a shrinking inventory of rental units will increase housing demand. Home prices will see an increase as well as new home starts which are expected to increase for a second year in a row in 2012. In 2011, Austin home starts increased by 5% compared to 2010’s inventory. New home starts will continue to see an increase in the Austin housing market as long as strict mortgage underwriting criteria, supply of developed lots, weather and water resources, and investor confidence remain stable.
Read more about Austin’s positive housing trend here.
Special thanks to Bruce Turner via Flickr for the incredible photo!