|Home construction surge 2017; builders 'revving' up||Home construction surge 2017; builders 'revving' up||https://www.recenter.tamu.edu/news/newstalk-texas/?Item=18775||2018-01-10T06:00:00Z||2018-01-11T00:00:00Z|
DALLAS-FORT WORTH – Homebuilders rushed to increase construction the fourth quarter 2017—growing the number of single-family home starts by more than 20 percent from the same period in 2016.
That jump in DFW homebuilding in the final months of the year pushed total North Texas single-family starts to 33,891 homes for 2017—the strongest building volume in a decade, according to Ted Wilson of Residential Strategies.
The surge in fourth-quarter starts will give builders more inventory and houses to sell in early 2018 when seasonal demand for houses typically starts to rise, Wilson said.
"It's evident builders are revving up," said Wilson.
The sharp increase in construction is also an indicator that some of the squeeze of the construction labor market has eased.
DFW builders sold almost 32,000 new homes in 2017—almost 15 percent more than were sold in 2016.
In the metroplex, the median price of new houses sold in fourth quarter was about $345,000—about $100,000 more than what a preowned house sells for in the area.
|Dallas News||Dallas-Fort Worth-Arlington||Housing|| https://www.dallasnews.com/business/real-estate/2018/01/08/d-fw-home-starts-surged-fourth-quarter|
See also: Dallas-Fort Worth-Arlington Housing Market Research.