November 3, 2017
Central Texas’ new-home construction starts surged to an 11-year high in Q3 2017. Austin homebuilders launched work on 4,586 houses, a 12.5% increase from the same quarter, the previous year, according to metrics from Metrostudy. The number of starts was at its highest level since Q3 2006, when a record 5,041 starts were recorded.
On an annual basis, home starts in the metro also reached their highest level since late 2006, as builders launched construction on 16,719 houses in the past 12 months, ending in September 2017. This marked a 19.1% year-over-year increase.
One constraint on the market has been a labor shortage. Metrostudy pointed out there is anecdotal evidence that the shortage has been exacerbated, in part, due to federal immigration policy changes. The Hurricane Harvey aftermath is also likely to add to the issue of finding qualified labor, Metrostudy added.
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