That didn't take long: Austin home sales resume torrid pace

April 22, 2016
Source: 
Austin Business Journal

Activity in the residential real estate market is heating up alongside warming spring temperatures.

There were 2,552 single-family home sales in March, up 9.3 percent from the same month in 2015, according to data released Thursday by the Austin Board of Realtors.

After a downturn in January that was possibly caused by a methodology change and a modest 2.9 percent rise in year-over-year home sales in February, the Austin area appears back to a torrid pace of single-family home sales.

ABOR continued its push against permitting and code enforcement issues that are in the spotlight as the region struggles with affordability issues. Board President Aaron Farmer said in a statement that longtime Austinites "are being priced out of their homes and many are unable to live close to their work or school."

"As a city, we have to start being mindful of how our property development, appraisal and code enforcement decisions impact not only housing affordability, but also the diversity of our neighborhoods and communities," Farmer said.

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