August 9, 2018
Though Austin ranks as the 31st largest metro based on population, Texas’ capital city came in sixth place nationally when it came to housing units permitted during the first six months of 2018. A report from the Austin Chamber of Commerce points out that the metro was surpassed in this metric by Dallas-Fort Worth, Houston, New York, Atlanta and Los Angeles.
During 2017, permitted housing units in the region totaled 26,700, surpassing the pre-recession peak reported in 2006 – and the chamber is forecasting that “2018 is likely to attain a new peak in total permits.”
The metro issued the fifth-largest number of single-family housing permits among major metros. While the chamber noted that the “level of activity would seem to signal that the region might be making a dent in the supply conditions,” the supply of for-sale homes in Austin is well below the six months necessary for a market considered in balance.
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