Dive Brief:
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Austin, TX, is among the “healthiest” housing markets in America, according to David Cobb, regional director of Metrostudy, the research and analysis arm of Hanley Wood, which publishes Builder magazine.
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That’s no surprise, given its popularity with young adults, its growing job market, and its oversized share of housing starts and closings, even when compared with other markets on Metrostudy’s Top 10 list.
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The others are: The Villages, FL; Provo-Orem, UT; Fort Collins, CO; Salt Lake City, UT; Crestview-Fort Walton Beach-Destin, FL; Naples, Immokalee-Marco Island, FL; San Jose-Sunnyvale-Santa Clara, CA; Greeley, CO; and St. George, UT.
Dive Insight:
Metrostudy has identified four key factors that will drive growth in housing sales and remodeling businesses this year:
- Baby boomers will buy more homes and spend more on renovating their existing abodes.
- High consumer confidence and a sense of financial stability are the most important drivers of demand for remodeling services.
- Pent-up demand for remodeling and replacement projects will translate into business for those trades as home values increase.
- Demand for larger homes is increasing, although homebuilders relying on volume sales will need to offer lower-priced options.