2019 was the best year for North Texas home starts since the Great Recession.
North Texas homebuilders hit the ground running with new construction in the final months of 2019, starting almost 22% more homes than a year before.
Builders began work on almost 8,900 houses in October, November and December – the strongest fourth-quarter construction total in more than a decade, according to data from Dallas-based housing analyst Residential Strategies Inc.
“Lower mortgage rates energized the North Texas housing market in the second half of 2019,” Residential Strategies principal Ted Wilson said in a new report. “Our builder clients reported unseasonably strong sales in the fourth quarter, many sharing that October and November were some of the strongest sales months of the year.”
The year-end construction blitz was enough to push D-FW home starts for the year to 35,884 units — up about 2% compared with 2018 to the highest level since the Great Recession.
Even with recent years’ gains, single-family home building in North Texas is about 30% behind where it was in 2006 before the housing market crash.
By Steve Brown
1:04 PM on Jan 9, 2020