A review of permit data for new home construction in Texas thru Q2-2023
Since the start of this year (through June 2023), new home construction has continued to decline in the Lone Star State. Based on the latest data available from the HBW database, there has been a 32 percent year-over-year decrease in new residential construction from the combined metro areas of Dallas, Houston, Austin, and San Antonio, resulting in 35,077 new permits added to the HBW database for the 6-month period. Across all areas, there has been a marked drop in housing starts, with year-over-year decreases ranging from 25 percent (Houston) to 50 percent (Austin) through June 2023.
Here is a closer look each metro area, total permits, and leading counties for new home construction through the second quarter of this year:
Since the start of this year (through June), there have been more than 16,520 new residential construction permits added to the HBW database for the Houston area, reflecting a 25 percent year-over-year decrease in new residential construction. More than half of all new permits originated from Harris County (8,820 permits), and the only county that has reflected gains in residential construction so far this year is Galveston (504 permits) with a 7 percent year-over-year increase in new home construction.
Dallas and surrounding areas ranked #2 for new residential construction, having 12,220 new permits on record through the second quarter of this year, reflecting a 30 percent year-over-year decrease in new home construction. More than half of all new construction activity took place in the counties of Tarrant (3,587 permits) and Collin (3,610 permits), and in comparison to other Texas metro areas reviewed, Dallas is leading for higher value home construction (value >$500k), having 1,950 new higher value residential construction permits on record for the 6-month period.
In Austin, there were 3,430 new residential construction permits on record with HBW through Q2-2023, reflecting a 50 percent year-over-year decrease in new home construction activity. Out of the four counties reviewed, Travis County (1,613 permits) and Williamson County (1,116 permits) carried the greatest concentration and majority of new home construction activity for the 6-month period.
Through the second quarter of this year, there have been 2,905 new residential construction permits added to the HBW database for the San Antonio area, reflecting a 45 percent year-over-year decrease in new home construction. Out of the three counties reviewed, the greatest amount of new home construction activity took place in Bexar County (1,896 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.