Housing economics: Homebuyers face a tighter crunch in Austin in 2016

Housing economics: Homebuyers face a tighter crunch in Austin in 2016Austin’s housing industry may be in jeopardy as the report of the group Metrostudy indicated that homebuilders could no longer buy the lots they need at a price that is reasonable. The study reported that Austin’s homebuilders had created far lesser homes in the last quarter of 2015 in comparison to their 2014 status. Lot deliveries have also dropped in the same period. There is also a visible downward trend when it comes to lot deliveries by up to 45% and builders are still reeling back from the backlog of new homes that were affected by the weather. It is expected that with these trends, cheaper homes below $350,000 may be scarce in the future.

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