Forecast: Almost 10,000 New Home Starts Expected in 2013
Construction could begin on 8,800 to 9,600 new single-family homes in 2013, according to an annual forecast by Eldon Rude, the Austin analyst with the real estate tracking firm MetroStudy. Rude delivered his forecast this morning before a group of realtors and home builders. The growth would represent an increase of 10 to 20 percent.
"If we have a continuation of very strong job growth in the Austin region - which we've had the last couple of years - if that holds true, then we will likely see increasing activity over the next year or so," Rude told KUT News. "Because of tight levels of inventory for resale homes and new homes, that we'll see increasing pricing as we move through the year."
You can listen to our full conversation with Eldon Rude by clicking the player above.