Austin Region Likely to See Shortage of New Homes with Continued Population Growth on the Horizon

From the HBA newsletter, presented at last weeks Midyear Economic Forecast
"Buyers who may be “on the fence” are encouraged to buy now. If interest rates were to tick up just 1%, the price of a home would have to decline by 10% to make up the difference. Home prices are already on the rise in the greater Austin region. Expected population growth coupled with the lack of new home starts that will keep up with the region’s growth will likely cause prices to rise further."

For the full article : http://hbaaustin.com/displaycommon.cfm?an=1&subarticlenbr=611#fphousingforecastpr