HBW has more than 6,100 new residential construction permits on file for Texas in August, and Houston held its lead for the most housing starts for the month.
Last month, the Texas metro areas of Houston, Dallas, Austin and San Antonio had a combined total of 6,118 housing starts and nearly $1.5B in total construction value; this is a 19% increase in new residential construction in comparison to July, and Houston remained on top with nearly 2,500 new permits and more than $484M in construction value last month. Although Houston experienced a month-over-month increase of more than 17%, it was not alone in monthly growth for housing starts; two other metro areas experienced a high for the summer as well. Dallas was up nearly 22% in comparison to July with 2,205 permits and was highest for total construction value of any one metro area ($663M+). Austin experienced the greatest month-over-month increase of 29% with 1,004 housing starts and a total value close to $222M. Although San Antonio did not see a spike in new residential construction last month, the area has remained consistent and steady over the last few months with 443 housing starts and more than $92M in construction value for August.
Texas New Residential Construction Permits by Area – August 2016
When looking at the average value of new residential construction, half of the metro areas were slightly up for the month, while the other half dropped in comparison to July. Dallas has been consistent as a leader when it comes to higher value construction. Holding steady and having experienced a minimal increase, Dallas had an average residential construction value of $300,724 last month. Austin’s average value for housing starts dropped in comparison to July and was $220,922 for August. The average value of new residential construction in San Antonio also dropped month-over-month to $207,784. On the other hand, Houston has remained a powerhouse in new residential construction in the Lone Star State. As previously mentioned, Houston has been leading for total new residential construction permits this summer, and although it has the lowest average value of new residential construction ($196,452), the average value of housing starts was up by 7% in comparison to July.
Texas Average Value of Residential Construction – August 2016
When narrowing our focus to a county perspective, five counties have continued to lead in housing starts this summer. In August, the lineup for the top five counties remained the same as July, but there were some shifts in positioning. Harris County in Houston has been a standout leader for new residential construction so far this year. With a month-over-month increase of 12% for total permits, Harris maintained its spot at #1 with 1,256 housing starts and nearly $245M in construction value. In Dallas, Collin County jumped up one spot as it saw a major month-over-month increase of more than 70% in housing starts; Collin has 857 new residential construction permits and more than $268M in value on file with HBW for the month. Also experiencing a spike since July, Travis County in Austin jumped two spots with a 23% increase in activity (535 permits) and nearly $109M in construction value. Just as in July, Houston’s county of Fort Bend held steady in fourth for housing starts with 470 new permits and more than $75M in total value. Following close behind, Tarrant County (Dallas) dropped three spots since July to #5 with 439 housing starts and a total construction value in excess of $106M.
Texas Top 5 Counties for New Resid. Permits – August 2016
Information utilized for the graphs and above listed figures for Texas residential construction was directly derived from HBW 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.