Slow Start to New Home Construction in Austin? Blame It on the Rain
New home construction in the greater Austin area is off to a slow start, with 12 percent fewer homes underway in the first quarter of 2015 compared to the same quarter in 2014, according to a Residential Strategies Inc. report cited in an Austin American-Statesman article. Residential Strategies cited a heavy rain period in January and in the months since. “The slowdown in activity should not be construed as tapering of demand. Sales reports from homebuilders indicate that home buying activity has been robust.” The report stated that closings for new home construction increased 13.4 percent in the first quarter compared to last year, with buyers closing on 2,542 new homes. The pace has been increasing, with 10,330 new homes closed through March. Read more about the factors of new home construction in Austin in the original article.