A review of permit data on record with HBW for new residential construction in Texas during the month of August 2020
Things are looking up in Texas when it comes to new home construction. Last month, the four major metro areas of the Lone Star State (Houston, Dallas, Austin, San Antonio) had a combined total of 8,557 housing starts with a total construction value of approximately $2 billion – This is close to a 45 percent month-over-month increase and the highest volume of new permits for any given month since March of this year.
Out of the four major metropolitan areas reviewed, Houston maintained its lead for volume with 3,870 new residential construction permits on record for the month, while Dallas continued to hold the top position for highest average value of new home construction (average value: $280,191).
Here is a closer look at the total starts, average value of construction and leading counties by metro area for the month of August 2020:
In Houston, there were 3,870 housing starts with a total construction value of nearly $741 million last month. The average value of construction continued to be lowest in Houston (average value: $191,434) in comparison to other Texas metro regions reviewed, and just about 77 percent of all new construction in the area took place in the counties of Harris (1,992 permits) and Montgomery (974 permits).
Last month, there were 2,695 housing starts with a total construction value in excess of $755 million in the Dallas area. As previously mentioned, the highest average value of new home construction has and continues to be in the Dallas area (average value: $280,191), and well more than half of all new permits originated from the counties of Tarrant (817 permits) and Collin (748 permits).
In the Austin area, there were approximately 1,295 housing starts with a total construction value of $315.5 million during the month of August. The average value of new home construction landed mid-range (average value: $243,824) in relation to other metro areas reviewed, and the county with the highest concentration of new residential construction activity was Travis with 734 new permits for the one-month period.
Last month, there were nearly 700 housing starts with a total construction value of approximately $170.8 million in the San Antonio area. The average value of new home construction was $244,645, and nearly all new residential construction permits originated from the County of Bexar (543 permits).
To gain more information on the builders, homeowners and permits for the construction activity above, check out HBW for your copy of the latest construction data reports. To gain access to the HBW database and receive custom and detailed reports on the latest residential and commercial building activity in Florida, Georgia, Texas, Alabama, and Oklahoma, please contact HBW for details.