Austin’s new home market is booming, according to a new ranking from real estate platform Point2.
Austin is tied with San Antonio for third place on the listing of major US cities with the most new homes for sale that were built in 2012 or later.
The ranking is based on active listings from Point2, Redfin, Realtor.com and Zillow during the last week of April. For Austin and San Antonio, the number of new homes on the market accounted for a 42% share of all homes for sale.
El Paso tops the list, with 51% of homes for sale built in 2012 or later. In stark contrast, Detroit ranks first among the nation’s 50 most populous cities for the share of listings of homes built in 1970 or earlier. (92 percent).
Elsewhere in Texas:
- Fort Worth is tied for seventh with new homes accounting for 36% of all homes for sale.
- Houston ranked 12th with new homes accounting for 31% of those for sale.
- Dallas is tied for 17th with 24% of homes on the market being new.
Point2 calls Texas “the poster child for new homes for sale.”
“The Texas cities of El Paso, San Antonio, and Austin — along with Oklahoma City — are the only major centers where new homes built after 2012 account for more than 40% of inventory for sale,” the real estate platform says. .
New York City had the highest total number of homes for sale built over the past decade (about 4,500), followed by Houston and San Antonio, with about 3,500 each, according to Point2.