Starts rise 21% over same time last year
of demand for all our five communities,” where sales are up 44 percent this year over last.
In March, Streetman will launch the first phase of its sixth community, Grey Rock Ridge (also in Circle C), where it plans to build 388 homes during the next five years. Jackson said Streetman has a list of more than 150 prospective buyers interested in Grey Rock Ridge currently.
At Barstow Court, homes will range from about $270,000 to about $360,000, with the average price of $310,000.
Streetman now has 64 homes under construction in the Austin area, and expects to build and sell about 175 homes in 2013.
Eldon Rude, a local housing expert, has predicted that home starts in 2013 and 2014 in Central Texas could return to pre-recession levels, with builders potentially starting on 8,000 to 11,000 new homes during each of those years.
“The combination of increasing demand, few finished new homes in inventory, increasing pricing, and greater buyer confidence are all combining to result in more new home sales this year compared to the last several years,” Rude, director of the Austin market for the national housing data and consulting firm Metrostudy, said recently.
In Central Texas, home starts were up 21 percent in the 12 months that ended in September compared with the 12month pace at the end of September 2011. Job and population growth are among the factors driving demand, along with low mortgage-interest rates and rising apartment rents.
But the region is facing a short supply of inventory, and competition among builders is fierce for land and lots to build on.
At Barstow Court, John Capezzuti and his wife, Chelsee, were first in line to reserve a lot.
The couple, both of whom are teachers at Westlake High School, have a 1-year-old daughter, Hope, and another daughter due in June. The Capezzutis, who already live in Circle C, will be moving to a larger house in Barstow Court. The $365,000, two-story house they are buying will have four bedrooms, 3½ bathrooms and 3,200 square feet of space.
“We were very excited to be included in the first group for sure,” John Capezzuti said. “We were No. 1 and got first priority.” China their ‘second home country’ and are making big investments in the world’s fastest growing consumer economy of scale.”
According to research firm Gartner, the mobile app market has nearly doubled in 2012 with smartphone users worldwide downloading more than 45 billion apps this year. Gartner estimates that by 2016, 300 billion apps will be downloaded annually.
Appconomy has 100 employees, including about 20 in Austin, and plans to add to both its Austin and Chinese workforces next year, Magierski said.