Austin Homes See ‘Fast And Furious’ New Sales: HomeUSA Reports
Austin Homes See ‘Fast And Furious’ New Sales: HomeUSA Reports
AUSTIN, TX — As we near the end of summer, the demand for new homes has yet to slow down.
HomesUSA.com, which conducts monthly reports of Texas’ metro areas moving reports, concluded in its September report homes in Austin are continuing to sell at a record pace, which has forced a spike in prices as the days on market fall.
The real estate site gave Patch an exclusive first look of its report on Friday.
The report, which conducted an overview of August sales in Austin, Dallas-Ft.Worth, Houston and San Antonio, says new homes in Austin were on the market for an average of 20 days last month, which is down from 86 days last August.
The statewide average pace for new homes was 58 days, which HomesUSA.com says is the “fastest recorded” since the release of the index and down from nearly 100 days in August 2020.
“Like the popular movie franchise, Austin new homes sales are fast and furious,” said Ben Caballero, owner of HomesUSA.com. “Prices are trending higher as demand continues to outstrip supply, even though builders are doing everything they can to build more homes.”
Historically, Caballero said that days on market are higher for new homes than resale homes by about 60 days due to construction time. However, because builders are not listing homes until they know their construction costs, the new home’s DOM is much closer to the resale market…more
