Houston leads nation in housing startsHouston leads nation in housing startshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=83172013-02-06T10:03:00Z2013-02-06T00:00:00Z

HOUSTON - Houston is leading the nation in housing starts, as builders started 23,480 homes in 2012, a 27 percent increase from 2011 and the highest year-end tally since before the recession, according to Metrostudy.

In fourth quarter 2012, area builders closed 5,720 new homes, bringing the year-end total for 2012 to 21,713. 2012’s closing tally represents a 17 percent increase in closings activity compared with 2011. Experts expect more than 23,000 homes to close in 2013 in Houston.

The relative supply of finished vacant homes in the market currently rests at 1.9 months, a seven year low. In fact, the market currently has twice as many homes under construction as it does homes sitting finished and vacant.

As a result of strong job growth in 2012, Houston’s unemployment rate has dropped from 7.3 percent to 5.8 percent through November 2012.

Realty News Report
Houston-The Woodlands-Sugar Land
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