Houston’s residential construction up 20 percent YTD

HOUSTON – Year-to-date totals for residential construction have increased 20 percent to $4.1 million compared to the year-to-date 2012 of $3.4 million.

MSA residential construction was up 5 percent in June 2013, according to McGraw Hill Construction.

Residential housing is surging, with projects underway like Imperial Sugar Land master-planned community and the Woodforest master-planned community in South Montgomery County, which will soon have 700 home sites available for buyers 55 years old and up.

On the commercial front, contracts for future construction dipped 27 percent in June 2013 to $246 million, down from $339 million in June 2013. Local industry experts say the slump in June 2013 contracts does not necessarily indicate of a slowing real estate cycle.

In June 2012, there was $610 million worth of contracts for future construction, but that number rose to $640 million in June 2013.

The Houston MSA consists of Austin, Brazoria, Chambers, Fort Bend, Galveston, Harris, Liberty, Montgomery, San Jacinto and Waller counties.

See previous story Imperial Sugar Land unveils first neighborhoods.