OFFICE:     DIRECT:     Vance Richardson - Agent at THE PROPERTY SHOP


 Welcome to the TheRichardsonGroupRealEstate.com Blog

2012-06-29 13:52:38
DFW New Home Sales

Mel Evans/The Associated Press

Permits for home construction in the Dallas area are up more than 24 percent this year.

By STEVE BROWN

STEVE BROWN The Dallas Morning News

Real Estate Editor

stevebrown@dallasnews.com

Published: 27 June 2012 09:32 AM

Related

North Texas homebuilders are getting back to business, with a sizable increase in planned construction for 2012.

Single-family homebuilding permits rose more than 24 percent in the Dallas area through April. And permits in the Fort Worth area were up about 5 percent from the same period last year, according to a new report by the Real Estate Center at Texas A&M University.

“Texas building permits in the first four months of 2012 were up 17.9 percent,” Dr. Mark Dotzour, chief economist for the Real Estate Center, said in the report. “In Texas and other states that are producing new jobs, new homes are being built.

“Employment in the construction industry will expand to meet demand for new production.”

Homebuilding in North Texas fell more than 70 percent during the recession as builders reduced construction. More than 40 midsize and large builders in the Dallas-Fort Worth area curtailed work in the area or went broke.

But single-family building appears to have bottomed.

New home sales in the D-FW area were up 5 percent in the first quarter from the same period of 2011. And starts were 7 percent higher than in the first three months of last year.

The biggest increase in building this year in Texas has been in the Oil Patch towns of Midland and Odessa, where single-family homebuilding permits are almost 56 percent higher than in 2011.

Homebuilding permits during the first four months of the year were up almost 25 percent in Houston, up 23 percent in San Antonio and rose 8.5 percent in Austin.

Permits are a leading indicator of home starts and are watched to gauge the health of the industry.

Nationwide, building permits are almost 19 percent higher than a year ago, according to the Real Estate Center report.

“This appears to be the beginning of the next stage of economic recovery in Texas and the nation,” Dotzour said.

_________________________________________________________________

 

 
Blog Archive
2014-10-15 13:10:47
Rising Rents make Home Ownership Cheaper in Dallas

2014-07-14 13:42:43
DFW HOME PRICES SOARING!!

2014-07-01 13:18:21
Dallas Area Home Prices

2014-06-05 13:28:49
Denton County Market Update

2014-05-01 14:14:13
HOME PRICES ON DOUBLE DIGIT RISE

2014-04-15 14:15:44
Shortage of Home Inventory

2013-07-25 12:11:48
Denton Area Market Shares

2013-07-15 10:47:04
Three Compelling Reasons Why Your Buyers Should Bu

2013-07-15 10:37:56
Huge Drop In Foreclosures

2013-07-11 14:27:07
WHY NOW IS A GREAT TIME TO BUY!

2013-06-20 14:00:33
Mortgage rates slip Jun 20, 2013

2013-06-20 13:57:48
Existing-home sales increases Jun 20, 2013

2013-06-14 14:01:36
Confidence In Housing Market Spikes

2013-06-03 13:43:31
DALLAS FT WORTH FORECLSOURES DOWN

2013-05-03 12:52:49
HIRE A HOME BUYERS AGENT

2013-05-03 12:47:28
The supply of homes for sale in North Texas is at

2013-05-03 12:40:54
REAL ESTATE NEWS FOR LEWISVILLE, TX

2013-05-03 12:37:58
DALLAS AREA HOME PRICES GROW AT RECORD PACE!

2012-08-03 10:09:17
Refinance and Mortgage Options

2012-06-29 13:52:38
DFW New Home Sales

2011-12-26 12:46:16
Texas Real Estate News

2011-12-09 09:50:07
Holidays, A Good Time To Sell


Comment on this Article

Your Name:
Your Email:
Comments:
Verify:  Please enter the numbers shown to help eliminate spam.