Mandujano, with Austin growing at such a tremendous pace, there are always going to be new developments and new homes going up to compete with resale homes. However, Austin is ranked as the number one Boomtown/place to be in the United States by Forbes and many other reputable sources. We have made so many top 10 lists, I can't even keep track anymore.
This means that although there might be new homes to compete with, you will also have many buyers who cannot afford new homes, or would rather live in a more established neighborhood, or just prefer a certain location. Also, as the cost of materials keeps increasing year-by-year, brand-new homes with higher costs, stricter building codes, etc. etc., will make resale homes more affordable and desirable. Also, if you buy a house in an area that is not growing, with a more stagnant economy, or buy in an area that is less desirable, the house you buy today will not be worth as much as a house in a more desirable area in general. Therefore it is better to buy in an area that is growing and desirable versus one that is stagnant or on the decline.
However, if you are very concerned about that particular area, get in touch with me and I will be happy to discuss some other areas that might suit your needs and not have as much competition in the future. If I am your Realtor I would be happy to examine the long-term potential and pitfalls and advise you properly. Quite frankly you need to get a good Realtor to assist you and not rely on answers on a website to make such an important and large purchase. Also, not knowing you, your budget, or your long or short term goals or needs regarding a home, neighborhood, etc., it is really impossible to do much more than give you generalized information which again is not what you should be relying on to make such a big purchase decision. Feel free to contact me and I will see what I can do to help you make the right decision!!
Joe Jarusinsky Realtor/Master Instructor Keller Williams Realty, Austin's #1 Real Estate Company, Ranked #1 by Buyers and Sellers (JD Power & Assoc. 2012)