With a whole portfolio of positive indicators about the health of the real estate market in Austin, a group of local industry leaders recently made predictions about what 2014 will bring for one of the country’s fastest growing metros.
Jan Buchholz provides comprehensive coverage of the relevant statistics explaining the dynamics of Austin’s ongoing real estate boom, which is driven by an influx of both residents and companies to the Texas state capital:
“From 2006 through 2013, the area has added 343,832 residents, but apartment construction and single family building permits haven’t come close to reaching the need…”
“About 1.2 million square feet of office space was absorbed in Austin in 2013.”
“17,736 apartments are under construction in the Austin market with nearly 4,500 of those in the Central Business District and Central Austin.”
As for the panel of real estate market experts, there predictions varied around market segments, but most indicated optimism. Predictions included questions about financing, a fiercely competitive commercial market, the return of the shopping center, and the need for transportation solutions.
Read the full story: What to expect from Austin's roaring real estate scene during 2014
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