By Becky Collins, 2019 President
The Austin Business Journal reports over 150 people relocate to the Austin metropolitan statistical area (MSA) every day making it the second fastest growing city in the nation. Austin makes the top of every desirable city list for our vibrant art community, music and foodie scenes, as well as the laid back lifestyle we all appreciate. Apple announced 5,000 new jobs, and Google, Indeed, Facebook and Progressive have all indicated they are expanding in Austin. We learned at our Annual Housing Forecast in January that, unlike our traffic, the Greater Austin economy is not slowing down anytime soon. People are coming and they will need housing.
From a home building perspective, what do we do? We keep building houses! In 2018, our builders cranked out 16,500 starts. We expect to build at a similar pace this year. As more millennials enter our market, our builders are providing more options for a customized experience. As boomers look to downsize, we are creating communities that will service their changing needs. We are working hard to keep houses affordable with the factors in our control, like increasing functionality in smaller spaces and working with local government entities to keep fees low and processes efficient.
Almost 70 percent of Austin’s population growth over the past decade is due to net migration from around Texas, but Austin is a preferred destination for many people across America as well. According to Redfin, 28 percent of people looking to buy in Austin are from out of state, with 18 percent of them seeking refuge from the skyrocketing costs in the Bay Area of California. The average home price in Austin hovers around $305,000 and is significantly less than the Bay area’s $1.3 million average home price.
Relocating to a new area is never easy, but the Greater Austin area has so much to offer. Our builders will make sure our new neighbors land in beautiful homes they love and can afford.
HBA Austin members recognized on national stage
The South Austin community, Haven, won the Gold Award for Best Infill Community for the 2018 Best in American Living Awards (BALA) given by the National Association of Home Builders (NAHB). Awards were announced during the NAHB International Builders’ Show on Feb. 20 in Las Vegas, Nev. Built by HBA member Schwartz Custom Homes, Kipp Flores Architects, also an HBA of Greater Austin member, designed the site layout, unit floorplans and construction documents for this project. Civil engineering was provided by HBA member Texas Engineering Solutions and interiors were designed and merchandised by another HBA member, Mary DeWalt of Mary DeWalt Design Group.
Now in its 35th year, BALA recognizes outstanding achievement by builders and design professionals in all sectors of the residential housing industry including single-family production, custom, multi-family, affordable housing, remodeling, community and interiors. BALA is built on the principle that all great homes start with great design, no matter cost or size.
Get your tickets for the annual HBA Crawfish Boil Builder/REALTOR Mixer March 28
Our Annual Crawfish Boil is coming up on March 28 at Sweetwater. This is a great opportunity for the real estate community to mix with the building community over great food and live music. This event sells out every year, so get your tickets now at hbaaustin.com. RL