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DFW new home supply at 20-year lowDFW new home supply at 20-year lowhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=60562013-10-14T07:47:00Z2013-10-14T00:00:00Z

DALLAS-FORT WORTH - Even as Dallas-Fort Worth builders remain busy building new homes for a surging residential market, the finished inventory of vacant homes in North Texas sits at a 20-year low.

"The low lot inventory is continuing to push lot prices in the high demand locations," said David Brown, regional director of Metrostudy, which released its third-quarter housing report for 2013. "If lot deliveries do not accelerate in the top submarkets during the last quarter and first half of next year, the growth in starts may begin to slow more due to supply constraints," he said.

This year, builders are expected to build 22,000 new homes, which is the most new home starts since 2007.

Even as DFW builders started 19 percent more homes in third quarter 2013 compared with the previous year, there were 5 percent fewer finished new homes in the inventory in North Texas. That low inventory — a 1.5-month supply of homes — will likely lead to higher prices for homes into next year's spring selling season.

Third quarter new home sales rose by 22 percent in the quarter. In September, there was about a three-month supply of preowned single-family homes listed for sale with local real estate agents. And total home listings in North Texas were 14 percent lower than in September 2012.

Read more at the Dallas Business Journal and the Dallas Morning News.

Dallas Business Journal
Dallas-Fort Worth-Arlington
Housing
http://www.bizjournals.com/dallas/news/2013/10/09/report-dfw-new-home-supply-at-20-year.html`Read more at {Source}

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