The Carvajal Group Blog

Austin home starts drop in third quarter

October 11th, 2010

According to Residential Strategies Inc, Austin area builders broke ground on 1,391 new houses in the third quarter. This number represents a 34 percent drop from those of the second quarter.

“Builders are reporting that new home demand has been in a ‘recharging mode’ subsequent to the expiration of the housing tax credits on April 30,” said Residential Strategies Principal Ted Wilson.

“Effectively the market sold ahead of itself, especially for entry-level priced homes under $200,000.”

“Builders remain cautious with speculative inventory in this market” he continued. “Many buyers are deferring home purchase decisions until after the mid-term elections when there will be greater clarity regarding tax rates and the regulatory environment of the future.”

If you are looking to purchase real estate in the Austin area, contact the Austin real estate agents at the Carvajal group today by calling 512-419-7770 today.

Tags: Austin Real Estate · Austin Real Estate Agent · Austin Rental Property