U.S. New-Home Sales Rise to 16-Month High, Topping Estimates
Home construction in the metroplex totaled more than 34,500 units on an annualized basis, topping Houston’s 30,206. Central Florida was third in construction, with about 28,000 homes last year.
Metrostudy says that housing starts were down in half of the top 10 building markets in the first quarter. Affordability issues may curtail growth in new-home construction this year, too, says Paige Shipp, regional director of Metrostudy’s Dallas region.
“Based on last year’s slowdown, there was concern that the market cooled,” Shipp says. “Many builders responded by shifting their product offering to more affordable homes and decreasing base prices.” In the Dallas-Fort Worth area, builders responded to affordability concerns by starting more homes between $250,000 and $350,000 in the first quarter.
The top 10 markets for new-home construction in the first quarter:
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