{"id":16745,"date":"2020-11-17T11:18:06","date_gmt":"2020-11-17T17:18:06","guid":{"rendered":"https:\/\/theamericangenius.com\/housing\/?p=16745"},"modified":"2020-11-17T12:15:18","modified_gmt":"2020-11-17T18:15:18","slug":"austin-real-estate-set-to-be-still-be-hot-post-covid-just-different","status":"publish","type":"post","link":"https:\/\/theamericangenius.com\/housing\/big-data\/austin-real-estate-set-to-be-still-be-hot-post-covid-just-different\/","title":{"rendered":"Austin real estate will still be hot post-COVID, just different"},"content":{"rendered":"

The Austin, Texas real estate market looks set to be just as hot post-COVID-19 as it was before the coronavirus pandemic\u2014though it may look a little different.<\/p>\n

In October, the Austin Business Journal convened a panel of experts<\/a> to discuss the future of real estate in the Texas capital. These included Sean Bukowski, the owner of the Bukowski Law Firm, Investors Alliance Inc., President Diana Zuniga, Affordable Central Texas CEO David Steinwedell, Presario Ventures Principal Darin Davis, and Sabot Development Managing Partner Jim Young.<\/p>\n

Despite COVID-19\u2019s adverse effects on the economy, the residential real estate sector has continued to remain hot, with industrial space booming as well.<\/p>\n

According to the Urban Land Institute\u2019s annual report, Austin is the second-best real estate market in the country going into 2021, though it did hold the top spot in the institute\u2019s previous reports. That doesn\u2019t mean the Austin real estate sector has come away completely unscathed from the pandemic, however, as leasing seems to be an area of concern.<\/p>\n

\u201cIn terms of leasing, leasing just came to a screeching halt. We had several good prospects for our building \u2014 it\u2019s 123,000 square feet and by April everybody was just on hold.\u201d Zuniga said, \u201cA few people now are stirring but the transaction volume overall, if you read the reports, is really down.\u201d<\/p>\n

Downtown offices are also feeling the current effects of the coronavirus. Zuniga stated that the latest surveys found office buildings downtown to be \u201crunning at 20% capacity\u201d at the moment. This would affect not only the businesses who are leasing downtown area buildings but the restaurants and retail spaces who make a large part of their revenue from the office crowds. Although many experts on the panel believe that the sector will rebound, it will most likely be with different companies that are there currently.<\/p>\n

\u201cThe downside is that it\u2019s likely going to be with a lot of different players than it was before.\u201d Bukowski said when asked about the downtown area, \u201cBecause we represent a number of music venues, for example, and they\u2019re not coming back anytime soon and probably not going to make it, unfortunately.\u201d<\/p>\n

Exactly what things will look like in Austin when the COVID-19 pandemic is over is anyone\u2019s guess, but things are certainly shifting across the country<\/a>\u2014and Austin might not be immune.<\/p>\n","protected":false},"excerpt":{"rendered":"

(REAL ESTATE BIG DATA) While Austin real estate has gone through some changes in the pandemic, commercial and residential markets are still hot with no signs of slowing down.<\/p>\n","protected":false},"author":337831,"featured_media":16746,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"wds_primary_category":0,"footnotes":"","jetpack_post_was_ever_published":false,"_links_to":"","_links_to_target":""},"categories":[91],"tags":[2058,1927,426,1234,2059],"class_list":["post-16745","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-big-data","tag-austin-real-estate","tag-covid-19","tag-real-estate","tag-real-estate-news","tag-real-estate-trends"],"jetpack_featured_media_url":"https:\/\/theamericangenius.com\/housing\/wp-content\/uploads\/sites\/2\/2020\/11\/AustinSkyline.jpg","jetpack_sharing_enabled":true,"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/16745","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/users\/337831"}],"replies":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/comments?post=16745"}],"version-history":[{"count":3,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/16745\/revisions"}],"predecessor-version":[{"id":16749,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/16745\/revisions\/16749"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/media\/16746"}],"wp:attachment":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/media?parent=16745"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/categories?post=16745"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/tags?post=16745"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}