Luxe Austin Homes - builders

"Caliterra in Dripping Springs breaks ground on second phase"

Austin Business Journal reports, "Caliterra, a 600-acre master-planned community in Dripping Springs, is growing.

Developer SR Capital Management broke ground this week on The Ranch at Calterra, a $40 million expansion of the community at 26025 Ranch Road 12, according to an announcement. The new development phase will add more than 200 homes and home sites.

Caliterra’s original plans called for 616 homes, of which 575 have been built. Counting 232 more attributable to The Ranch, Caliterra’s total eventually will come to 848.

The homes at The Ranch, from builders David Weekly Homes, Drees Homes and Scott Felder Homes, will range from 3,000 square feet to 5,000 square feet and will be built on 80- and 100-foot lots. They will start in the…

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"The National Observer: Real Estate: National housing market shifts amid spring season"

Editor's note: Here's a look at The National Observer: Real Estate, a roundup of top real estate news from across The Business Journals' network of publications.

Austin Business Journal shares, "Dallas tends to top the country on a lot of metrics, and it can count new housing supply as another feather in its cap.

The Dallas-Fort Worth Metroplex experienced a 27% growth in new housing from 2010 to 2023, or 9% higher than its predicted growth of 18%, according to a new study by the George W. Bush Institute-SMU Economic Growth Initiative. It's also much higher than the average metro growth rate of 15%.

Although DFW is becoming more expensive as more jobs and people move there, its new housing supply is helping to keep home prices and rents…

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"Homebuyers Face Less Stress as More Listings Hit the Market"

Realtor.com writes, "It’s spring home selling season, and there’s good news for buyers who may feel less pressure to commit to a home on the spot as more listing options are available.

The Realtor.com® weekly housing data showed that listing prices flattened even as new listings and active inventory growth continued. The data suggests that March home shoppers will have more options and a bit more time to evaluate those options this year versus last.

The Realtor.com forecast expects modestly higher home sales from the low 2024 bar as inventory recovery gives home shoppers more options and more market power. That mortgage rates are steady this year at a time when they surged last year will likely benefit spring shoppers and should encourage…

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"Building Boom Forecast for 2025: Number of Affordable New Homes Set To Soar, but Expect Them To Be Smaller"

Realtor.com writes, "Builders are working to fix America’s critical housing shortage—and while the number of new homes is expected to top 1.1 million in 2025, expect them to be built slightly smaller.

But, homebuyers can expect them to be more affordable, too, according to the Realtor.com® 2025 Housing Forecast. This is especially good news for first-time homebuyers, who might find new homes easier to access in areas that are growing.

New construction will help ease the housing shortage

In 2025, new-home sales and single-family housing starts are expected to improve compared with other types of homes. Builders plan to construct about 1.1 million homes, which is a 13.8% increase from 2024.

Builders are working to make homes more affordable,…

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"Here's a look at changes Austin made to development regulations in 2024"

Austin Business Journal shares, "It has been a year of change in Austin for regulations around homebuilding, with many new policies enacted that are meant to boost the supply of residences. 

They include new density bonus programs that enable developers to build taller buildings if they include affordable units, as well as modifications to rules governing lot sizes and how many homes can be built on them.

Here is a look at some of the changes enacted in Austin in 2024, in addition to proposals that the City Council may consider soon.

HOME Initiative 

One of the most debated undertakings was the implementation of the HOME Initiative, which altered the rules regarding how many homes can be built on single-family lots and also reduced the…

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"Homeowners and developers can now build on smaller lots under HOME Phase 2"

Austin Business Journal reports, "Developers can now build on smaller lots as part of an effort to allow denser and more affordable housing throughout Austin.

Beginning Aug. 16, homebuilders and homeowners can apply to participate in the second phase of the HOME Initiative, a city of Austin spokesperson confirmed, which allows homes to be built on lots as small as 1,800 square feet — down drastically from the previous minimum lot size of 5,750 square feet.

Many density and affordable housing advocates in Austin have long pushed for smaller minimum lot sizes for single-family homes, calling the change one of many code updates that could move the needle for affordability and housing stock concerns. HOME Phase 2 also establishes new rules for lot…

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"Housing Market Predictions For 2024: When Will Home Prices Be Affordable Again?"

Forbes Advisor writes, "The housing market might finally be entering a transitional phase.

Summer sales have been tepid thus far, but there are signs that activity could heat up by the end of the summer as mortgage rates edge down and much-needed resale inventory continues to enter the market, giving buyers more options.

Other good news for home shoppers is the ongoing decline in the median price for a new home—now below the median resale home price—even as builders continue offering buyer incentives.

Nonetheless, experts say the housing market will only see renewed momentum once mortgage rates drop enough to ease affordability challenges and incentivize homeowners locked in at low rates to move so inventory grows substantially to meet…

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"Home prices begin to come down in pandemic boomtowns like Austin, Tampa"

Yahoo! Finance writes, "Real estate prices surged nationwide when the pandemic hit. Bidding wars, all-cash offers, and contingency removals became commonplace.

Now, the tide has turned in some markets.

Home prices in some large US cities declined in April, according to mortgage data company ICE Mortgage (ICE). San Antonio and Austin in Texas, and Tampa, Florida — among the most popular cities during the pandemic — saw the biggest monthly price declines.

The shift comes as these markets recalibrate: Homesellers and house builders are adding more listings, just as fewer Americans are relocating there.

“The key differentiator we're seeing in terms of growing inventory levels in Florida and Texas is a rise in sellers' willingness to list their…

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"New-Home Sales Surge as Buyers Seek Options in Tight Housing Market"

Realtor.com reports, "New-home sales surged last month, as buyers increasingly turned to fresh construction in a housing market plagued by few homes for sale.

Sales of new single-family houses jumped 8.8% in March from the prior month, to a seasonally adjusted annual rate of 693,000, the U.S. Census Bureau and Department of Housing and Urban Development jointly reported on Tuesday. March sales were up 8.3% from one year ago and were at their highest levels since last September.

The median sales price of new homes was $430,700 in March. That was good news for buyers as the price was down 1.8% from one year ago. This is a result of homebuilders increasingly pivoting to smaller and more affordable homes to appeal to buyers pinched by high mortgage…

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"600 more apartments in pipeline for North Austin"

Austin Business Journal reports, "Two multifamily projects are moving forward in North Austin that could collectively bring more than 600 new apartments to the city and create more opportunities for builders, contractors and more.

Austin City Council approved a zoning change on April 18 for a roughly 10-acre site at 10911 Stonelake Blvd., just north of the North Burnet and Gateway district. That change, from limited industrial zoning to multifamily, sets a path for the construction of about 400 apartments.

The council also approved a zoning change from general office to mixed-use on a 9-acre site at 13614 Metric Blvd., allowing for 238 new multifamily units near the Wells Branch neighborhood to move forward.

Don Reese, founder and partner of…

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