What we reported
Homebuyers, especially those looking for a starter home, struggled to find affordable houses in Northwest Austin in 2017 as median prices continued to increase.
The latest
After years of increasing home prices, Steve Crorey, president of the Austin Board of Realtors, said an increase in new construction in the area may start to stabilize the Northwest Austin housing market.
What’s next
As Austin City Council works toward approving CodeNEXT, the rewrite of the city’s land-development code, some in the real estate industry are expressing a desire to see land-use policies that promote affordable development alongside medium- and high-end construction. Crorey said it is important to look at the land-development code not only within the city but also in parts of Travis and Williamson counties to ensure there is a diverse housing stock available to everyone. Without codes that incentivize or promote development of affordable and medium-priced housing, Crorey said prices will continue to climb.
This story is one update from The January Issue. View the full list of Top 8 stories to follow in 2018 here.