DFW home sales up, starts down in 1Q 2015

DALLAS-FORT WORTH – North Texas new home sales rose in first quarter 2015, but the number of home starts fell sharply from 1Q 2014, according to new data from Residential Strategies Inc.

DFW home builders started 5,740 houses during the first three months of 2015. That’s down almost 23 percent from home starts in 1Q 2014.

“As we suspected, the very wet weather we experienced this spring slowed our start rate,” said Residential Strategies principal Ted Wilson. “If the weather cooperates over the next three months, I think we will have a huge second quarter.”

Builders sold 4,785 new homes — about 5 percent more than in 1Q 2014.

Only 3,113 finished, vacant new homes were available at the end of 1Q 2015, less than a two-month supply of houses.