People from all over the country are finding their way to Texas and many of them are settling down in Austin. The city of Austin reports 115 people are moving to the Austin area every day; 45 into the city limits. That leaves 70 people a day looking outside of the city and the Lake Travis area has been a hot spot on the relocation radar.
The last time new home construction in the Lake Travis area experienced this kind of demand was back in 2006. You could drive through the new residential developments and see 50 to 100 homes going up. Land was being cleared, slabs were getting poured, and it seemed like framing crews were slapping up houses overnight.
When the market experienced the meltdown, demand for new construction and resale homes in the Lake Travis area came to a screeching halt. Driving through the areas that were planned for new development was like driving through a ghost town. The construction jobs dried up and a large number of workers left the area, or even the country, in search of other work.
[Read more…] about The Quality of New Homes in the Lake Travis Area
