Austin Business Journal November 8-15 pp12|Housing|”What Austin’s Home Permit Numbers Say About The Market”
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“The Austin metro area suffers from a persistently low housing stock” boosted by an influx of new residents, pent-up demand for home ownership from COVID. Given “a housing permit rate that was among the highest in the nation over the past decade” hasn’t been enough.
Austin had about 135,000 new housing permits from 2011 to 2020 ranking fifth in rate-per-capita in America. Houston and Dallas, with populations three fold the Austin-Metro, added 363,000 and 292,219 respectively.
“ Between January and August 17,325 single family home permits were filed in the Austin Metro...a 29% increase over the same timeframe in 2020” and a total of 23,134 by the end of 2020. That’s a run rate more than 70% higher than the annual rate between 2011 to 2020.
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