Houston home starts surge over 7,000 in 2QHouston home starts surge over 7,000 in 2Qhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=66762013-08-02T12:21:00Z2013-08-02T11:00:00Z

HOUSTON - Home builders started 7,678 new homes in second quarter 2013, a 14 percent increase over 2Q 2012. This marks a second quarter tally above 7,000 for the first time in five years, according to Houston-based research firm Metrostudy.

So far in 2013, home builders have started 26,000 homes, up 24 percent from this time in 2012, and the highest tally since before the recession.

At the end of 2Q 2013, there were about 9,800 homes under construction in the area — a 19.2 percent increase from 1Q 2013.

In addition, the supply of homes sitting finished and vacant has declined by 6 percent and remains at historic lows as builders see their speculative homes purchased before reaching completion.

Closings have increased steadily over the past eight quarters; and in 2Q 2013, home builders closed about 6,200 new homes, bringing the 2013 total to around 23,700 — a 17 percent increase compared to 2012.

Master-planned communities hold about 30 percent of the market share of Houston's new home construction, said David Jarvis, regional director of Metrostudy.

However, many of the communities are short on lot supply. In April 2013, lot supply dipped to 3.4 months, a 13-year low.

Houston Business Journal
Houston-The Woodlands-Sugar Land
http://www.bizjournals.com/houston/news/2013/07/24/houstons-new-home-momentum-keeps-going.htmlRead more at {Source}

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