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Dallas steps over Houston, becomes top homebuilding market in U.S.Dallas steps over Houston, becomes top homebuilding market in U.S.https://www.recenter.tamu.edu/news/newstalk-texas/?Item=131992016-05-19T05:00:00Z

​​​DALLAS - For years, Houston has led the nation in new home starts—but not any more.

Dallas has overtaken Houston as the top homebuilding market in the U.S., according to Metrostudy Inc., a housing research firm.

After the first quarter, Dallas-Fort Worth builders are on track to start construction on 28,878 new homes in 2016. That’s 1,615 more homes than expected in Houston, according to Metrostudy.

New home starts in Dallas were up more than 20 percent in the first quarter while Houston starts plunged by 10 percent, according to Metrostudy.

At the current rate of new home starts, Dallas homebuilders will have 5,000 additional new home starts in 2016 compared to 2015.

On the other hand, new home starts in Houston are expected to decline by 3,000 starts year over year, according to Metrostudy.

Lawrence Dean, senior adviser overseeing Metrostudy’s Texas region, said Houston homebuilders are starting fewer homes for three reasons

1. Oil slump: As energy companies announce bankruptcies and layoffs, local builders are taking down fewer lots from land developers and pulling back on new homes projects.
2. Maturing communities: Slowing home starts were long expected in mature communities like The Woodlands and Cinco Ranch, which have fewer lots to offer builders as they near completion.
3. Skyrocketing prices: Houston has experienced a sharp increase in new home prices during the energy boom, which has forced some buyers into the resale market.

Houston Business Journal
Dallas-Fort Worth-Arlington
Housing
http://www.bizjournals.com/houston/morning_call/2016/05/dallas-overtakes-houston-as-top-homebuilding.htmlRead more at {Source}

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