Virtual Mid-Year Housing Forecast a Hit!
On Tuesday, July 21 the HBA held its first virtual forecasting event. More than 200 attendees joined us from their desks to hear from four expert speakers representing the City of Austin and Meyers Research.
Spencer Cronk, Austin City Manager, gave an update on the city’s 2021 budget proposal which will include how the city can prepare for two crisis situations: Covid 19 and racial injustice as it relates to public safety. Additionally, he shared that there will be no significant increase in taxes and fees, as well as the new Housing and Planning Department’s plan to streamline operations. Download Presentation
Denise Lucas, COA Development Services Department Director, shared changes to residential inspections due to Covid 19. The goal is to streamline services with an updated website featuring new online checklists and video inspections, by standardizing the approach to inspections, as well as by investing in cross training for inspectors. Download Presentation
Tim Sullivan, Senior Managing Principal, Meyers Research, and Bryan Glasshagel, Senior Vice President, Meyers Research gave market overviews nationally and for the Austin area and discussed trends to watch for the upcoming year.
They reported that month to month there has been growth in almost every market, with Austin doing better than most. They did note that, as expected, development is moving further and further from the city central. In the existing home market both new and active listings are down and a spring ‘wave’ is not predicted for 2021.
Trends to watch included a focus on how to deliver enough product to keep up with demand and how Covid will change consumer perspectives on what they want in a community and attitudes on where they live as more people work from home and shelter in place.
We’d like to thank everyone who attended, as well as all of the event sponsors: Independence Title, Aces Builders Warranty, Anchor-Ventana, Legend Lighting and Texas Gas Service.