Houston housing market to churn through 2018Houston housing market to churn through 2018https://www.recenter.tamu.edu/news/newstalk-texas/?Item=44312014-04-11T23:17:00Z2014-04-11T08:00:00Z

HOUSTON - Houston had more new-home starts in 2013 than the entire state of California, says housing consultant John Burns, head of Calif.-based John Burns Real Estate Consulting.

Burns' survey of the best-selling master-planned communities in the nation shows that ten of the top 25 are in Houston.

He projects that annual new-home starts in Houston will increase about 13 percent annually over the next three years, peaking at 50,000 starts in 2016. “With only a three months supply of houses on the market, prices have to go up,” Burns says.

Houston builders could be building and selling 50,000 new homes in 2014, but a shortage of labor and quality lots is suppressing the local construction industry somewhat.

These projections indicate home prices will continue to increase, probably about 5 percent this year, followed by 4 percent next year. Prices will continue to rise through 2017, but will soften slightly in 2018.

Realty News Report
Houston-The Woodlands-Sugar Land
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