Houston new home market continues climbHouston new home market continues climbhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=74342013-05-09T10:55:00Z2013-05-09T07:00:00Z

HOUSTON - Housing starts rose 32 percent during first quarter 2013. Builders started 6,442 homes 1Q 2013, according to Metrostudy. It was the first time in five years quarterly starts went above 6,000.

Builders are on track to start construction on as many as 28,000 homes in 2013. That’s better than 2012, but still down considerably from 2006 when the market peaked at nearly 50,000 starts.

Job growth, low resale inventory and high affordability are driving the demand. Economic groups have predicted the Houston area will gain as many as 75,000 new jobs in 2013. While that’s down slightly from last year, it would still come out to an above-average year.

New home prices are also up 10 percent over the past year.

Houston Chronicle
Houston-The Woodlands-Sugar Land
http://blog.chron.com/primeproperty/2013/05/new-home-market-continues-climb/Read more at {Source}

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