Austin Housing Market Conditions
Austin's economy is strong as ever, but its housing market is suffering from what is known as a growth paradox. The region's economy and job market remain strong, experiencing explosive growth. However, Austin's housing market is faltering at an unprecedented rate. In fact, compared to other housing markets across the country, Austin's housing market is slowing faster than virtually anywhere else and is expected to remain quite volatile throughout 2023.
Austin's job market is phenomenal. Compared to similar-sized markets across the United States, Austin has had the most job growth over the last decade and the highest income growth. Austin currently ranks #4 nationally for high-income employment opportunities. Unfortunately, this has increased the housing demand to a level that far outpaces supply, resulting in home prices exceeding the limits supported by local incomes.
To get Austin's housing market back on track, lower inflation, cheaper land prices, more affordable homes, and lower interest rates will be required. None of that is expected to happen this year. However, Austin's economy and job market are expected to strengthen regardless, so expect a significant number of available new homes for sale in Austin.
Austin is fast growing in all directions. Finding a new home development close to major employers, excellent schools and great amenities is easy in this large market. Lessen your commute with a new home in any part of Austin or its welcoming suburbs.
Choose from sprawling homes, lower maintenance townhomes and starter homes in safe, beautiful new home neighborhoods. Select from Craftsman, farmhouse, cottage, contemporary and traditional styles with stunning features and finishes. These flowing floor plans provide the latest in technology and features. Residents will be able to take full advantage of chef-inspired kitchens, flex spaces, spa-like master suites and outdoor living spaces.
Things to Do in Austin, TX
Austin, Texas is the a fast-growing capital city. Known as the "Live Music Capital of the World," Austin takes pride in providing outstanding entertainment on Sixth Street with its popular nightlife. You can find a variety of great music at festivals, honky tonks and bars spanning from country to jazz and everything in between.
Austin has a friendly reputation and a love for the outdoors. Your free time can be spent biking the Barton Springs Veloway, jogging around Lady Bird Lake or hiking to the top of Mount Bonnell to be rewarded with city views. From running events to water recreation at Lake Austin and Lake Travis, Austin residents enjoy great activity.
Home to the University of Texas, Austin has fun collegiate sports, museums and entertainment. Austin has a substantial bat population. These Mexican free-tail bats are a popular nightly attraction when they come out from the Congress Avenue bridge. As the largest urban bat colony in North America, it's quite a sight to see. Delicious restaurants tempt the taste buds. Choose from a variety of options including barbecue, fine dining, vegan and ethnic fare. Excellent retail therapy is found at the funky shops on South Congress, unique boutiques, major retailers and fun resale shops.
The allure of Austin continues to its welcoming new home communities that check off your wants and needs list.
Industries in the Austin Area
Austin is a major player in the technology industry. Some of the major employers in the area include Apple, Dell, Advanced Micro Devices, Amazon, Google, Facebook, IBM and Intel. Great employment opportunities can be found in software development, digital technology and data management. Other large career opportunities are available in education, manufacturing and healthcare.
New Homes for Sale in Austin, TX
Austin has 502 new home communities, with 6,685 houses available for sale. You can see all the new construction homes for sale in Austin as well as consider the many communities. These houses start at just $171,720, and they have up to 6,023 square feet of space, so people from all walks of life can invest in a quality new construction home. 74 homebuilders design and build 4,112 home plans, and your dream home is among them. Austin is among the fastest growing housing markets in the U.S.
To help you narrow down your search, here is a list of the best builders in Austin based on verified reviews from homeowners that recently closed on their new home.
School Districts in the Austin Area
Austin is committed to great education being a proud college city. Excellent school districts provide rich, safe learning environments. Choosing from the many great school districts is a hard choice. Austin Independent School District, Round Rock Independent School District, Lake Travis Independent School District, Eanes Independent School District, and Leander Independent School District are known for their quality educators and successful learning for students.
Want to Learn More Living in Austin, TX?
Here are a few resources that can help you find the perfect home in the Austin area.
Popular Housing Developments in Austin, TX
Market Overview: New Homes in Austin, TX
Here is a quick overview of new housing developments in the Austin area and the new construction market for new build homes in Austin:
| Market Name | Austin |
| State Name | Texas |
| Subdivisions | 502 |
| Homes Under Construction | 1,770 |
| Quick Move-in Homes | 2,295 |
| Floor Plans | 4,112 |
| Starting Price | $171,720 |
| Average Price | $527,345 |
| Price Per SqFt | $220 |
| New Home Builders | 74 |
| Leading Builders | - Perry Homes
- Lennar
- Taylor Morrison
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