Annual Housing Forecast Success and Highlights
On January 14, the HBA held its Annual Housing Forecast at the AT&T Conference Center. This is the single largest comprehensive economic and market forecasting event in the region for residential construction and development and one of the HBA’s most popular events, selling out year after year. A crowd of more than 740 joined us this year to hear predictions for the Austin-area housing market from host/speaker Eldon Rude of 360º Real Estate Analytics and speakers Julia Coronado from the U.T. McCombs School of Business and Capital Metro President, Randy Clarke. Download Presentations Here.
Annual Housing Forecast Highlights:
- Austin’s vibrant economy + falling mortgage interest rates = single-family home starts approximating levels not seen since the peak of the last upcycle in 2006.
- Builders reported strong sales throughout the 2019 despite continued price increases, but there is growing concern of rising prices meaning a slowdown in sales.
- The greatest demand for new homes was in the $225,000 – $325,000 range.
- Three new home communities in the Austin region topped 500 new home sales in 2019.
- Millennials are dipping their toes into homeownership. Younger generations are making different choices, in part based on preferences and in part reflecting still tight credit and expensive housing.
- To keep up with the population growth, Austin will have to consider going underground for new transportation solutions.
- Transit and Technology will go hand in hand to solve traffic woes. Autonomous vehicle fleets and a streamlined rider ticket/card system like Japan’s Suica card, a rechargeable contactless transit smart card, will emerge.
- Investments in public transportation directly affect economic returns, jobs created, business sales, and home values near high frequency transit.
Save the Date for the Mid-Year Housing Forecast on July 1.
Thank you again to all of our event sponsors