Earlier this year, experts predicted Austin renters would continue to pay steep prices, but a new report shows rents in the metro have dipped by 7%.16% decline nationwide in permits issued
However, permitting is just a part of the process. The report shows that despite a slowdown in permits being issued, completions are still rising as construction times get longer. In 2022, the average time for a multifamily project to be completed took 17 months. New zoning initiative aims to let developers build higher in Austin in exchange for more affordable housing
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: