Austin housing boom has homebuilders struggling to keep pace, prices soaring
Home construction is booming at a rapid pace across the Austin region but it s still not fast enough to keep up with torrid demand, builders and local housing market experts say.
Builders started work on a record number of new homes in the Austin area in the first quarter, according to Zonda, a firm that tracks the housing market. But supply has still not caught up with demand, and that lag coupled with factors including higher costs for lumber and other home-construction materials and a surge of newcomers, many of them affluent continues to drive home prices up.
The $54.6 million cash transaction, which closed Tuesday, marks Landsea Homesâ entry into the Texas housing market.
Vintage Estate Homes currently offers new home communities at Vintage Oaks, west of New Braunfels, Stone Creek Ranch in Boerne, Canyons at Scenic Loop in San Antonio and Belle Oaks in Bulverde.
John Ho, CEO of Landsea Homes, said the company had been exploring opportunities to expand into the Texas housing market since late last year.
An almost 1,900-acre project proposed along I-35 just outside of the New Braunfels city limi…
âAs an innovative homebuilder with a long-established presence in these markets, the Vintage Estate Homes team is renowned for providing superior homes at superior value and exceptional customer service with an approach that is very similar to ours,â Ho said. âThis acquisition provides Landsea Homes with the immediate opportunity to gain size and scale in key markets that are consistently maintaining strong housing fundam
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PHOENIX, Jan. 13, 2021 /PRNewswire/ Landsea Homes (Nasdaq: LSEA), a publicly traded residential homebuilder, announced today the acquisition of 1,067 finished single-family homesites at Eastmark in Mesa, AZ and El Cidro in Goodyear, AZ. We continue to strategically expand in Arizona with the recent purchases of new homesites at Eastmark and El Cidro, said Greg Balen, Arizona regional president, Landsea Homes. We ve sold homes in Eastmark before and they appealed to the region s demand for modern, quality housing at a desired price point. Mesa is one of Arizona s most sought after cities to live and we know that these new homes at Auto Courts and Green Court will sell quickly.