Austin Landed #1 in the Top 10 U.S. Metros in Homebuilding
Sun Belt metros are popular destinations for building new homes - single-family and multifamily properties. They were U.S. migration hotspots for homebuyers because of the affordability, warm weather, and growing economic opportunities.
Austin landed #1 in the Top10 U.S. Metro with 31.1 single-family building permits, 26.1 multifamily building permits, 19% or $555,000 median sale price April 2022, 46% $2,531 median rent April 2022, and 1,304 net inflow or outflows of Redfin.com home searchers for April 2022.
Redfin says, “Data in this report are based on U.S. Census Building Permits Survey, showing the number of permits per 10,000 people in Q1 of 2022. Single-family refers to properties with 1-4 units, and multifamily refers to properties with 5+ units. The popularity of migration destinations by net inflow measures how many more Redfin.com users are looking to move into a metro area rather than leave. Net outflow measures how many more Redfin.com users are looking to leave a metro area than move in.”