DFW home starts highest in seven years

DALLAS-FORT WORTH – After winter weather delayed construction in December 2013, North Texas home starts jumped almost 60 percent in first quarter 2014, according to Residential Strategies.

Builders started almost 7,300 single-family homes in 1Q 2014, the most since 2007.

Residential Strategies is forecasting that builders will begin work on between 24,000 and 25,000 houses in North Texas this year — up from almost 21,000 starts in 2013. Housing construction is still less than half of what it was before the recession hit and wiped out many local building companies.

Sales of new homes in 1Q 2014 — usually one of the slowest periods — were up about 18 percent from 1Q 2013 with 4,547 purchases.

The median new home price was $264,029, rising 8 percent from 1Q 2013.

“For people who haven’t been in the market for two or three years, there is some real sticker shock,” said Residential Strategies’ Ted Wilson. “Housing prices are up $60,000 and $80,000 in some instances.”