FAQ: What is the Forecast for Austin 2014 Real Estate?
Question: What is the forecast for Austin 2014 Real Estate?
Answer: Many briefings from various economic gurus have been held outlining the forecast for 2014 in Austin Real Estate market. They are all pretty consistent in their projections:
1. 150 people move to Austin every day.
2. Austin will double our population every 20 years
3. Austin will add 30,000 jobs in 2014 and 2015
4. There is a 2.8 month supply of resale homes in Austin
5. Home prices appreciated 10% in Austin
6. There are currently 7,000 active listings in Austin
7. Most new home sales are in the $200,000-300,000 price range
8. Annual new home starts forecast a 15% increase 10,771
9. 17.5 month inventory of 13,570 vacant developed lots as of Dec 2013
The demand is high but the limited inventory continues and prices are rising. The simple economic principles of demand and supply are at work in Austin!
All in all, 2014 looks to be another great year in Austin, Texas real estate! Expect continued job & population growth, low unemployment & more communities being developed with approximately 10-11,000 new housing starts. 30,000 new arrivals for this year looking to buy and lease…hold onto your hats!
As always, Austin real estate information is brought to you as a courtesy by Dorie Dillard of Coldwell Banker United; your NW Austin Real Estate Professional.
Selling or buying a NW Austin home is a complex process and you want to work with a REALTOR that understand the process and can connect you with other professionals that realize the importance of contract contingencies, customer service and are laser focused on closing on time every time.
If you are looking for a Realtor in NW Austin who will give you the professional real estate services you deserve...before, during and after your Sale or Purchase...Call Dorie Dillard...let me put my expertise to work for you..reach out to me at 512-346-1799.
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