When folks are shopping for a new home in the Austin area, there’s a good chance they’ll wind up in a newer home.
In a new report by Homes.com, Austin ranks No. 4 in the U.S. for the newest homes for sale, with 34.6 percent of listings being built in 2000 or later.
Ahead of Austin, the top locations for the newest homes being sold are:
- New Orleans, 40.8 percent
- Raleigh, North Carolina, 38.4 percent
- Nashville, Tennessee, 35.4 percent
Elsewhere in Texas, Houston appears at No. 8 (29.3 percent), and Dallas appears at No. 17 (23.5 percent).
It’s no wonder that these Texas markets stand so tall on the newer-home ladder. According to the National Association of Home Builders, the Austin area ranked No. 5 for most permits issued last year for new-home construction (21,653). Houston had more than anywhere else in the U.S. (48,208), and Dallas-Fort Worth ranked second (43,884).
Whether new or old, the inventory of homes for sale in the Austin area is shallow, with the Austin Board of Realtors reporting that in April, homes were on the market a mere seven days.
Across Texas, real estate markets are hot. The Texas Real Estate Research Center at Texas A&M University says single family home sales in Houston shot up 24.6 percent in the first four months of this year versus the first four months of last year. In Austin, that figure was 9.3 percent, compared to 4.8 percent in Dallas-Fort Worth and 15.4 percent in San Antonio.