Austin is hot and I’m not just talking about the weather. Austin’s growth is outpacing the supply of homes in inventory which is making it a competitive market to buy and even rent in. Over 25,000 people moved to Austin between July 2011 and July 2012, according to the U.S. Census Bureau. The growth moved Austin’s ranking of the nation’s largest cities from the 13th spot to number 11.
Austin Real Estate Market sees more new construction
Austin is expecting to 27,000 people moving into town each year for the next 3 years. The Austin Board of Realtors has reported a 32% increase year-over-year in new home construction in the second quarter of this year.