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Update Dallas | A central hub for market and real estate news affecting the Dallas region.

A central hub for market and real estate news affecting the Dallas region.



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Brand-New for You: Home Construction Increases in DFW

July 15th, 2013 | by The Update
5808 Settlement Way at the Craig Ranch in McKinney

This new home at 5808 Settlement Way in McKinney’s 17 Green neighborhood includes beautiful views of the TPC Craig Ranch golf course. Listed by Christy Berry for $995,500.

Metrostudy reports the Dallas-Fort Worth new home market continued to expand rapidly during the second quarter of 2013, with builders starting 32 percent more homes during the quarter.

New home starts were up the most for homes priced over $300,000. The move-up price points have performed the best over the past three years due to low interest rates and strong housing affordability.

Here’s what the Dallas Morning News had to say about the report:

“Homebuilders continued to report strong year-over-year gains in net sales during the quarter,” David Brown, regional director of Metrostudy’s Dallas-Fort Worth office, said in the new report. “Builders responded by starting more new homes during the second quarter than any time during the last five years.”

Metrostudy reports that D-FW homebuilders started almost 6,000 homes in the second quarter.

They sold 5,127 houses – a 25 percent increase from second quarter 2012. The quarterly DFW new home sales were at the highest level since 2008.

“It is likely homebuilders will start 22,000 homes in 2013, which is at the high end of our forecast”, said Brown.

But even with the big recent gains, home starts in 2013 will still be almost 60 percent below the peak of local building in 2006.

Click here to read the full article from the Dallas Morning News.

Metrostudy reported that the housing recovery continues to be led by the northern suburbs with North Fort Worth, Frisco and McKinney showing the largest increase in starts over the past year. Collin, Denton and Tarrant counties experienced the largest jump in starts during the second quarter.

Click here to read more news about real estate and the economy in Dallas-Fort Worth.

Briggs Freeman Sotheby’s International Realty is Dallas’ luxury real estate leader, with more than 190 agents in five offices located throughout Dallas-Fort Worth and access to the global Sotheby’s network, including more than 11,000 agents in 600 offices worldwide. CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty. For more information on escapes and second homesranch and land, and luxury homes in the Dallas-Fort Worth region and beyond, go to briggsfreeman.com.

 

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