BREAKING NEWS

High Mortgages Frustrate Buyers

RNR Real Estate Briefs – HOU, AUS, DAL & more

East River Adding Art to the Mix

Major Warehouse Lease Signed

Unilev Taps Stream Realty

58 Cities Drop Off Million-Dollar Home List

REALTY NEWS REPORT - Logo

Banner
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact
FacebookLinkedinYoutubeEmail
REALTY NEWS REPORT - Logo

Despite Hurricane, Houston Ranks No. 2 in the Nation in Housing Starts, Behind Dallas

by Realty News ReportNovember 16, 2017
Share0
Lawrence Dean, Metrostudy

HOUSTON – Houston ranks No. 2 in the nation in housing starts, behind only Dallas, as Texas continues to show exceptional strength in home building.

Houston had 27,713 housing starts for the 12-month period ending Sept. 30, according to Metrostudy, a national housing and research firm. That’s a 6.4 percent increase over 2016.

Dallas remained as the top new home market in the country, with builders starting 31,911 homes in the twelve months ending in the third quarter of 2017. Dallas has experienced strong job growth and relocation activity that includes the relocation of the Toyota North American Headquarters.

Houston has seen an uptick in job growth in 2017 and existing home sales are running at a record-setting pace. Home building has been pushed by pent-up demand and population growth.

Houston builders sold 7,540 houses in the third quarter, up slightly from the 7,427 sold in the third quarter of 2016, Metrostudy reported.

Metrostudy reported that most Houston builders were relatively unscathed by Hurricane Harvey, although a few builders reported as much as 4 percent of their properties were damaged in the storm.

“Houston’s new home market and general economic conditions cannot be discussed without touching on the impacts of Hurricane Harvey, which damaged 167,000 single family homes throughout the Greater Houston Area. ,” said Lawrence Dean, Regional Director of Metrostudy’s Houston market. “In general, Metrostudy does not anticipate any significant increase in new home sales demand generated by Harvey victims until 1Q18. These potential future buyers are simply focused on managing their damaged homes, temporary housing, insurance claims, and FEMA assistance to be able to move forward on purchasing new homes until this timeframe.”

Metrostudy anticipates ending the year with a 5 percent to 6 percent annual increase in Houston single family starts in 2017 followed by a more modest 2 percent to 3 percent increase at the end of 2018.

Nov. 16, 2017 Realty News Report Copyright 2017
Share0
previous post
The Sequel: Howard Hughes Corp. Starts The Woodlands Hills
next post
Another Hotel Underway in Downtown Houston

Related posts

High Mortgages Frustrate Buyers

Realty News ReportMarch 27, 2023

RNR Real Estate Briefs – HOU, AUS, DAL & more

Realty News ReportMarch 25, 2023

East River Adding Art to the Mix

Realty News ReportMarch 23, 2023

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Search News

Partners Ad
CBRE Ad
Arch Con Corporation Ad
Hines Ad
Avera Ad
Ziegler Cooper Ad
Lee & Associates Ad
2021 Realty News Report Ad
Property Logos
RNR - Lincoln Property Company
Hal Gordon - Property Tax Lawyer
Hunington Ad
Evergreen Commercial Realty
STREAM Ad
Hunington Ad

Let's Connect

logo
About US
Author Ralph Bivins is editor of Realty News Report, which covers regional and national news. Bivins recently received the Gold Award for Best Column in the National Association of Real Estate Editors Journalism Competition. Contact us
Follow us
FacebookLinkedinYoutubeEmail
@2022 All Right Reserved. Powered by CGS Digital Marketing
REALTY NEWS REPORT - Logo
FacebookLinkedinYoutubeEmail
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact