From Austin Business Journal, April 1, 2009...
New home starts in the Austin area continued to decline in the first quarter of 2009, according to research from Residential Strategies Inc.
Builders started 1,215 homes in the first quarter, a 47 percent decrease from the same quarter last year.
That brings the current annual start rate to 7,938 units. At the market’s peak, in the third quarter of 2006, Austin saw 17,128 annual starts.
Closings for the first quarter of this year also fell to 2,145 units, a 31 percent decline from the same quarter last year.
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Monday, April 13, 2009
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