{"id":655,"date":"2021-03-10T08:23:50","date_gmt":"2021-03-10T08:23:50","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=655"},"modified":"2023-03-10T08:13:24","modified_gmt":"2023-03-10T08:13:24","slug":"austin-housing-market-trends-winter-2021","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/austin-housing-market-trends-winter-2021\/","title":{"rendered":"Austin Housing Market Trends – Winter 2021"},"content":{"rendered":"

In-Migration Supports Economy, Rental Market<\/h2>\n

Austin continued to showcase strength in pandemic times, and real estate fundamentals remained relatively steady despite strong supply. The metro\u2019s rental market still has obstacles ahead, but is sustained by numerous corporate relocations and strong in-migration. The average rent rebounded, rising 0.1% on a trailing three-month basis through January, to $1,367.<\/p>\n

The metro\u2019s economy ranked first among major U.S. cities\u2014employment contracted by only 2.8% year-over-year through November, while the national figure shrank by 7.8%. The unemployment rate stood at 5.9% in November, with preliminary December data pointing to 5.1%. Amid the health crisis, Tesla announced a multiphase facility set to open in mid-2021 and expected add 5,000 jobs, while Oracle announced the relocation of its corporate headquarters. Voters approved Project Connect, Austin\u2019s light rail system, which will alleviate traffic congestion and support the metro\u2019s expansion.<\/p>\n

Developers delivered 12,292 units in 2020, marking the second-best year of the decade, and had another 32,637 units underway in early 2021. Transaction activity intensified following a numb second quarter and closed the year at nearly $2.4 billion\u2014a new peak\u2014with the per-unit price up 10.1% to $160,872. Investment sales took a significant step back in 2020, coming in at $1.4 billion. That\u2019s less than half the $3.7 billion recorded in 2019.<\/p>\n

Read the full Matrix Multifamily Austin Report-Winter 2021<\/strong><\/a><\/p>\n\n\n

\u00a0<\/div>\n","protected":false},"excerpt":{"rendered":"

In-Migration Supports Economy, Rental Market Austin continued to showcase strength in pandemic times, and real estate fundamentals remained relatively steady despite strong supply. The metro\u2019s rental market still has obstacles ahead, but is sustained by numerous corporate relocations and strong in-migration. 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