AUSTIN (KXAN) — Austin’s affordability crisis has caused plenty of problems for many folks.
For those trying to buy a home, it’s been especially tricky at times.
“We continue to have people coming here that want to live here,” Austin Board of Realtors president Cord Shiflet said. “We just need to find the houses to sell them.”
Real estate experts gathered Tuesday morning in Austin for the 2022 Central Texas Housing Summit.
“When it comes to affordability and housing in Austin, there’s not going to be a single solution that gets us where we want to go,” Austin Chamber of Commerce President Laura Huffman said.
Those in attendance agreed that if the City of Austin sped up its permitting process, things could get better.
Shiflet says that Austin’s fees and permits are sending developers into the suburbs.
“If Austin is not moving fast enough, Hutto is or Kyle is,” he added. “We’re seeing other cities around Austin are really embracing this, this momentum that we’ve had.”
In this demand-driven market, it remains difficult for buyers to find a place to live in their price range.
“We’re seeing a need for both single-family homes, as well as higher density,” Realtor.com senior economist George Ratiu said.
The Austin Board of Realtors says that the Austin-area housing market is beginning to return to pre-pandemic levels.