Summit

From left, Metrostudy regional director Paige Shipp, Zillow Group Insights Director Mary Kaye O’Brien, and NAHB CEO Jerry Howard will speak at the Dallas Builders Association’s State of the Industry Summit on March 26.

From the Dallas Builders Association

The State of the Industry Summit, presented by Zillow Group, will feature NAHB CEO Jerry Howard, Metrostudy Regional Director Paige Shipp and Zillow Group Insights Director Mary Kaye O’Brien. The Summit, will be held on Tuesday, March 26 from 9 a.m. (doors open at 8:30) until 11:30 a.m. at Venue Forty|50 in Addison.

As the chief executive of NAHB, Jerry Howard’s leadership ensured that housing remained a priority in recent tax legislation. Howard continues to lead NAHB’s advocacy efforts through contentious times on Capitol Hill. NAHB recently scored key victories on regulatory reform, helped reduce the rising cost of lumber and assisted property owners facing regulatory overreach at the U.S. Supreme Court. (more…)

The Margaret Hunt Hill Bridge in Dallas. (Photo: Pixaby)

Metrostudy’s 4Q17 survey ranks Dallas-Fort Worth the top new home market in the nation. According to the report, DFW builders started 33,243 homes in the past twelve months, of which 8,561 started in the fourth quarter. The survey, which compares 4Q17 to 4Q16, reveals new home starts jumped by a whopping 16.9 percent — a major indicator of builders preparing for a strong spring selling season.

(more…)

housing starts

It used to be fairly easy to find a new home for under $200K in North Texas. But according to a recently released report from Metrostudy, first quarter 2016 data shows a “new normal,” reflecting a meteoric rise in starts above $200,000, meaning it’s harder than ever to find a new home in the sub-$200K price range.

“When comparing the increase in starts and closings year-over-year, starts between $250,000 and $299,999 are nearly three times the closings increase,” said Paige Shipp, Regional Director of Metrostudy’s Dallas office. “Starts between $300,000 and $349,999 jumped 81.2 percent, which is almost twice the increase in closings. Conversely, starts below $200,000 have dropped 14.6 percent and closings plummeted 31 percent.”

With rapidly rising land and development costs, developers tell Metrotex there is not much hope for the revival of the sub-$200,000 new home market in North Texas. This will remain an issue until cities, developers, and builders understand and deliver higher-density lots and smaller homes to the market, Sharp explained.

Metrotex isn’t the only one ringing this bell — for some time, other experts have said the same thing. We wrote a piece in November of last year where Dr. James Gaines, chief economist with the Real Estate Center at Texas A&M University, explained:

“For years in Texas, we have had the most affordable housing for a major metro area,” he said. “Affordability and workforce housing are going to be a major issue — we are not building enough houses in the $150,000 to $200,000 bracket.”

(more…)