“As an example, a permit application submitted [in early March] for development in the city of Austin extraterritorial jurisdiction [ETJ] will likely not receive a permit approval for at least 15 months or longer,” he says.

Additionally, as more technology-oriented corporations continue to relocate to Austin, “the population growth will continue to accelerate quickly while creating a significant impact on the commercial and residential real estate markets. This will further compound the issues related to development and permitting,” Pearson says.

However, the state of the construction industry is strong and currently at an all-time high when it comes to volume in the Austin area, he says. 

“The biggest changes that have impacted the industry are largely due to delays of construction materials, hyperinflation and labor shortages,” Pearson adds.