Dallas among leading U.S. cities with most new homes on the market, report says

Dallas boasts a wealth of new homes on the market. Photo courtesy of NextGen Real Estate

When folks are shopping for a new home in the Dallas area, there’s a good chance they’ll wind up in a newer home.

In a new report by Homes.com, Dallas ranks No. 17 in the United States for the newest homes for sale, with 23.5 percent of listings being built in 2000 or later.

“Booming job markets, affordable housing, and higher standards of living may explain construction in many of the cities with the most newer homes for sale,” the report says.

But it’s still not the boom in newer homes that Houston and Austin are experiencing right now. Houston ranks No. 8 for the newest homes for sale, with 29.3 percent of listings built in 2000 or later. Austin ranks No. 4 nationally, with that percentage being 34.6.

Ranking above Austin, here are the top locations for the newest homes being sold:

  1. New Orleans, 40.8 percent
  2. Raleigh, North Carolina, 38.4 percent
  3. Nashville, Tennessee, 35.4 percent

According to the National Association of Home Builders, more permits (48,208) were issued last year for new-home construction in the Houston area than anywhere else in the U.S. Dallas-Fort Worth ranked second (43,884), and Austin held the No. 5 spot (21,653).

The Texas Real Estate Research Center at Texas A&M University says single-family home sales shot up 24.6 percent in the Houston area for the first four months of this year versus the first four months of last year. That compares with 9.3 percent in Austin, 4.8 percent in Dallas-Fort Worth, and 15.4 percent in San Antonio.

A report from HomesUSA.com confirms that Dallas-Fort Worth home builders continue to see astonishing demand for new homes, as new home sales, average home prices, and the speed of sales all increased last month.

DFW’s three-month moving average for “days on market” dropped from 102 days to less than 67 days in just the last year, according to the HomesUSA.com’s New Home Sales Index. It’s a new record for the fastest sales pace of new homes since HomesUSA.com started reporting the data in 2017, they say.

“The demand for new homes is going to continue for many months if not years in Dallas-Fort Worth,” says HomesUSA.com owner Ben Caballero in a statement. “Throughout the area, we are seeing a gold-rush response as buyers flock to new developments, because demand is far exceeding supply.”

Information provided by Dallas Culture Map

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