D-FW Ranks Second in the US for New Home Starts and Sales

Dallas TexasThere have been huge recent cuts in the residential construction business, but Dallas-Fort Worth still ranks second in the country in new home sales and starts.  Only Houston had more new house construction and sales during the 12-month period ending in March, housing analyst Metrostudy Inc. said Tuesday in a new report. 

Builders have cut the number of home starts in North Texas by more than 50 percent in the last year because of the housing sector decline and the slumping national economy.  But local builders still started more than 17,000 houses in the D-FW during the 12 months ending in March, Metrostudy said.  At the same time, they sold almost 24,000 houses.

“Homebuilders are still challenged by economic conditions, but there are some positive trends,” Brad Hunter, Metrostudy’s chief economist, said in the report.   Sales are running ahead of construction in every market Metrostudy surveyed, he said.   “We are probably bottoming out in terms of single-family housing starts right now, but that does not mean we will return to the boom levels,” he said.  Dallas-Fort Worth single-family home construction peaked in 2006 when almost 50,000 houses were started. 

Top US new home markets – Based on number of starts and sales of single-family homes in 12-month period ending with March:

Market Starts Sales
Houston 22,502 28,326
Dallas/Fort Worth 17,638 23,957
Phoenix 12,302 21,838
Orlando 12,000 18,423
Atlanta 8,972 20,007
Austin 8,617 10,627
Charlotte 8,313 11,561
Raleigh-Durham 8,143 11,004
Las Vegas 8,115 10,689
Chicago 8,050 16,199
San Antonio 7,761 9,847
California Central Valley 6,952 10,938
Northern Virginia 6,064 8,816
Inland Empire (California) 5,747 10,119
Salt Lake City 5,161 8,608
San Francisco Bay Area 5,135 9,714
Denver 4,380 7,794
Jacksonville 4,378 6,528
Tampa 4,198 6,446


SOURCE: Metrostudy  |  D-FW ranks second in the US for new home starts, sales   STEVE BROWN / The Dallas Morning News

 

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