According to Realtor.com’s recently released market data, HBWeekly serves three of America’s ten fastest-growing housing markets: Atlanta-Sandy Springs, Georgia, Dallas-Fort Worth-Arlington, Texas, and Houston-The Woodlands, Texas. Realtor.con’s chief economist Jonathan Smoke explains that, “If access to credit improves, we could see substantially larger numbers of young buyers in the market,” he says of millennial homebuyers, but that “given a high dependency on financial qualifications, this activity will be skewed to geographic areas with higher affordability, such as the Midwest and South.” Building trades professionals in these areas will find their building permit activity data and residential construction job lead demands well met by HBW’s world-class building permit activity reports, cloud database, and white papers.
Atlanta-Sandy Springs, Georgia
Atlanta is growing rapidly, and is soon expected to lead the country in population and household growth. The housing market in the area is affordable despite a projected home price appreciation of 5% over the next year, according to Smoke. The city itself made headlines when it outsourced the majority of city maintenance tasks to private companies via service agreements, which have kept the city from accruing long-term debt or increased liability costs. The median home price for a 2,522 square-foot-condo with four bedrooms, two full baths and one- half-bath is $201,289.The key metric to watch in this market is the five-year household growth forecast, which currently sits at 11%.
Dallas-Fort Worth-Arlington, Texas
The DFW area is blooming with energy and tech jobs, and the housing market is expanding as well. The record-setting employment rates for 2014 are expected to grow 3% in 2015. This is also a strong market for new construction, which keeps supply inventory at elevated but reasonable levels for new homeowners. Smoke predicts a 3% increase for median home prices and 7% growth in home sales. The median price for a 1300-square foot house is $246,000. The market metrics to watch for Dallas are the household growth forecast, which places Dallas at the top of the market growth list, and the forecast of home sales volume, which is expected to rise by 7%.
Houston-The Woodlands, Texas
The Houston market has been very strong for the last several years and consistently makes a top five slot in every housing market category. Although the Houston market is becoming less affordable in comparison to other Texas markets, the Houston housing market is projected to increase 2% in 2015, with a 5% increase in home sales, according to Smoke. The median price for a 2822-suqre-foot house in the Houston market is $259,985. The metrics to watch for the Houston market are its 3rd highest ranking on the household growth forecast over the next five years, its 4% projected employment rate increase (twice the national rate) and the home sales volume rate of 5%.
HBW serves builders in Texas, Georgia, Oklahoma, Alabama and Florida. In addition to our Building Trend Activity for Residential Construction Reports, HBW can create a number of custom reports for any need you might have. To show you how we can help your business succeed, HBW is glad to provide you with complementary building data report or one of our specialized White Paper reports. Contact us today and start making your business more profitable!