HBW reports on residential construction permit data in Texas through the second quarter of 2018.
This year has already been a year of gains for Texas. According to a recent report by Bloomberg, the population of the Lone Star State has increased by 494,622 since January 2017 — the biggest gainer among U.S. states, according to government data. This report and increase is consistent with the latest information acquired from the HBW database. Based on the permits on record from January 2018 to June 2018, new residential construction permits have experienced a 6% year-over-year increase in Texas, resulting in nearly 38,500 new permits added to the HBW database for Houston, Dallas, Austin and San Antonio combined.
Out of the four major metro areas reviewed, Houston continues to lead the state for total housing starts (16,100+ permits) through the second quarter, and the Dallas area appears to be ranked highest for growth having an 11% year-over-year increase in new residential construction permits. Every major metro area, with the exception of Austin (5,799 permits, -2%), is already ahead of total permits from the previous year. While San Antonio has the fewest total permits in comparison to its larger counterparts, it is also experiencing gains this year having 3,520 housing starts through Q2-2018, reflecting a 5% year-over-year increase.
Counties that are demonstrating exemplary growth in new home construction are as follows:
- Denton County (Dallas area) – Through the second quarter of this year, residential construction permits in Denton County have experienced a remarkable year-over-year increase of nearly 60%, resulting in approximately 2,250 housing starts.
- Montgomery County (Houston area) – Over the last couple of years, Montgomery County has been pulling out of a downward spiral that was apparent in new home construction just a few years ago. In 2017, the area experienced its first increase in housing starts since 2014, closing the year with a 24% year-over-year increase. This year, new homes continue to boom as there has been more than a 27% year-over-year increase in new permitting activity through Q2-2018, resulting in 3,062 new permits on file.
- Bexar County (San Antonio) – The County of Bexar is another one to watch as new home construction began to pick up in the area last year. This year, the area has already experienced more than a 24% year-over-year increase in housing starts, resulting in the majority of new residential construction permits for the San Antonio area (1,952 housing starts).
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.