Toll Brothers announced that contracts for its luxury homes in America for the three months ending October 31st has surged by 42% compared with a year earlier and we 17% higher than the same period in 2007.
These statistics are continued signs that the national housing market is starting to show signs of life. Austin has not been effected nearly as much as the rest of the country but strength in the national housing sector will inevitably help the Austin market. One of the major problems we have been encountering is out of state buyers looking to move to Texas who are constrained by their lagging local market and difficulty selling their current home. Any improvement to the national housing market will greatly benefit all the markets.
Toll Brothers has several communities in Austin including:
The Vistas at Lakeway- starting in the mid $200’s
The Vistas of Lake Travis- starting in the mid $300’s
The Ridge at Alta Vista- starting in the upper $600’s
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