AUSTIN, TX—As employers extend the option of working from home, homebuilders and master-plan developers are buzzing, especially in suburban markets. Developers in the tech/creative industry hub of Austin confirm this trend and report a surge in buyers from both the urban core and out of state.
"Instead of living in San Francisco, New York or Los Angeles, workers can now choose to live in the relatively less expensive suburbs of Austin, Raleigh, Nashville and Denver," said David Shulman, senior economist for the UCLA Anderson Forecast. "All that is needed are fast Internet connections and a decent airport."
With two master plans in the region, Headwaters in Dripping Springs and Orchard Ridge in Liberty Hill, Freehold Communities confirms this trend. Sales combined for both communities are up a hefty 250% from January to August 2020, as compared to the same months in 2019.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
