HERE WE GROW AGAIN! Phil Crone, executive officer at the Dallas Builders Association said Monday "It seems the Dallas-Fort Worth area housing market is luring many national homebuilders to the area." "Obviously home builders are going to flock to where the population growth and, more specifically, job growth is," Crone said. "And the job growth is certainly as strong here in Dallas as it is anywhere in the country." According to data from the U.S. Census Bureau eight of the 15 cities with the fastest growth in the U.S. are in Texas. San Marcos tops the list. They saw its population grow by 4.9%, surpassing the 50,000-population mark. No other state has more than one city that made it to the top-15 list. Texas also is the fastest-growing state in the nation in both jobs and population. According to Crone, experts expected the Dallas market to come in at 20,000 permits annually in 2013 — up from 17,000 one-year before. This estimate would be a modest 10% gain. However, new estimates are reaching as high as 23,000 to 24,000 permits. "Based on what we’re hearing from our builders, we could see as high as a 20% increase in the housing starts as opposed to last year," Crone noted. Texas never saw the large housing or economic crisis that other states did. We were the last one into the recession and the first one out, joked Crone. Population growth coupled with an increased job growth ate through the existing housing supply in Texas, so now there has to be new product. We are getting dangerously low on lot supply, said Crone. Ryland homes is coming back to Texas after a 2 year leave of absence under the name of LionsGate Homes and Arizona-based Taylor Morrison just purchased Texas homebuilder Darling Homes.
Posted on: Tue, 02 Jul 2013 11:55:18 +0000
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