On January 13, 2016, the Moxie Ladies were privileged to attend the 2016 Housing Forecast. This event, sponsored by the Austin Board of Realtors (ABoR) and the Home Builder’s Association (HBA) of Greater Austin is the only comprehensive housing forecast of its kind in the region. Housing and economic experts presented their analysis, thoughts, and predictions for the upcoming year, including data on the job market, buyer wants and needs, population growth, and housing trends.
It won’t come as a surprise that the Austin market is booming, driven by strong job growth that is predicted to keep growing by more than 3% in 2016. We are still seeing record numbers of people moving to the metro area (we are, in fact, the fastest growing metro are in the country). Despite our skyrocketing growth in population and jobs, our housing inventory has had a hard time keeping up with demand. For more than three year’s, Austin’s housing inventory has been low–a trend that will continue through 2016. This impacts both the sales and rental markets. The challenge to builders moving forward is to provide and an affordable product with interesting features and designs that appeal to today’s buyers.
Whether you are planning to buy or sell in 2016, the Moxie Ladies are here to keep you informed and help you navigate this challenging yet rewarding market!