Texas Annual Residential Construction Review – 2018

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An HBW review of residential construction permits in the Lone Star State during 2018

Texas Residential Construction Permits – 2018

In 2018, Texas maintained its upward trend in new residential construction, having demonstrated a 10% year-over-year increase in housing starts; this will make it the second year in a row that Texas residential construction has exhibited annual increases in housing starts, making 2018 its best year in six years for total new residential construction permits on file with HBW.

In the combined major metro areas of Dallas, Houston, Austin and San Antonio, there were more than 78,000 new permits added to the HBW database last year.  Out of the four major metro areas reviewed, Houston ranked #1 for total permits; with a 7% year-over-year increase in housing starts, there were nearly 31,620 housing starts on file for Houston, and more than half of Houston’s new home construction took place in Harris County (16,380 permits).

Next in line was Dallas – With a 16% year-over-year increase in housing starts, there were approximately 27,540 new residential permits on file for the Dallas area.  The counties with the greatest amount of new construction exhibited annual increases ranging from 10% to more than 58% and included Tarrant (7,855 permits, +16%), Collin (7,755 permits, +10%), Denton (5,239, +58.3%).  Dallas also continued to reign supreme when it comes to higher value construction (>$500k); with nearly a 15% year-over-year increase in higher value permits, there were approximately 2,300 high value housing starts on file for Dallas last year.

Both Austin and San Antonio experienced 7% year-over-year increases in housing starts.  Austin closed the year with more than 11,500 new permits on file with HBW, and more than half originated from Travis County (6,920 permits, +5%).  In San Antonio, there were approximately 7,340 housing starts last year with the majority of new construction taking place in Bexar County (4,044 permits, +26.5%)

Statewide, there were counties that reflected both growth and held the greatest concentration of new home construction… With a 3.5% year-over-year increase in residential construction, Harris County (Houston) ranked #1 for total housing starts (16,380 permits), while Denton County (Dallas) took top spot for growth with an annual increase of more than 58%.   Other counties where new home construction exhibited remarkable annual increases include the San Antonio County of Bexar (+26%) and Montgomery County (+23%) in the Houston area.

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.

Atlanta Annual Residential Construction Review – 2018

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With more than 24,400 residential construction permits in 2018, Atlanta’s high rate of new home construction has held steady for two years in a row.

ATL Housing Starts 2012-2018

From 2012 to 2017, Atlanta area housing starts had been sustaining a healthy annual climb, and in 2018 this climb appears to have leveled out, for now.  Last year, new home construction in the Metro Atlanta area held steady and in line with 2017, resulting in nearly 24,420 new residential construction permits on file with HBW.  While there were no major increases in new residential construction over the year, this is not necessarily a sign of things slowing down.  Atlanta continues to be listed as one of the fastest growing U.S. cities, and earlier this year, Forbes ranked it #11 for one of the best places for business and careers.  The Atlanta metro has the fifth largest population in the U.S. with 5.9 million residents and is considered to be a top business city and a primary transportation hub of the southeastern U.S. Additionally, Atlanta has seen the job market increase by 2.2% over the last year, and future job growth over the next ten years is predicted to be 38.5%, which is higher than the US average of 38.0%.

Based on HBW’s Building Activity Trend Report for new residential construction in Atlanta, the greatest year-over-year increases and growth in residential construction for 2018 could be found in counties including Dawson (+64%), Walton (+74%) and Carroll (+64%).  Walton County’s growth was most notable as it appears to be quickly recovering from the major drop (-36%) in residential construction that it experienced in 2017.  On the other hand, housing starts in the counties of Dawson and Carroll have been rapidly climbing since 2012 and continue to be counties to watch.

On the opposite end of the growth spectrum, there were a few counties that did not fare as well this past year.  Counties such as Dekalb and Clayton had experienced annual decreases in residential construction ranging from 32% to 55%.  For Clayton County, this is the second year in a row that the area is exhibiting signs of a decline in new residential construction.  On the other hand, Dekalb County had been experiencing significant annual increases in housing starts since 2013, making last year’s drop unexpected and not indicative of a pattern at this point.

When looking at the areas with the highest concentration of housing starts, Gwinnett County continues to be a standout year after year; despite the 6% year-over-year decrease in new residential construction last year, Gwinnett still ranked #1 for total housing starts having 3,451 new permits on file with HBW.  Next in line was Fulton County – With a 4% year-over-year increase in new residential construction, Fulton County ranked second-highest for total new permits (2,558 permits).  Coming very close to Fulton and ranking #3 for total housing starts was Forsyth County; with a 4% year-over-year decrease in residential construction, there were 2,393 new permits on file for Forsyth County during 2018.

When reviewing higher value residential construction (homes over $500k), Fulton County continued to be the leading area.  Last year, there were more than 350 new homes with values in excess of $500k in Fulton County, making it the leader for higher value residential construction in the Metro Atlanta area.

Information utilized for the graphs and above listed figures for metro Atlanta 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.

 

A Year in Review – Atlanta Swimming Pool Construction 2018

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An HBW report on new swimming pool construction permits in the Atlanta area for 2018

Atlanta Pool Permits 2012 thru 2018

Since 2013, swimming pool construction has been on the rise in the Metro Atlanta area.  While the overall annual increase in new swimming pool construction was nominal (+1%) in the Atlanta area last year, the upward trend is still holding steady.  In 2018, the slight annual increase in new pool permits resulted in nearly 2,250 new pool permits being added to the HBW database.

Counties that have the highest concentration of new swimming pool construction activity include Fulton and Cobb.  Fulton County exhibited a year-over-year increase of 6% in new pool construction, resulting in nearly 420 pool starts, and while new swimming pool activity in Cobb County was down by 6% since the previous year, it still ranked second-highest for new swimming pool construction having more than 285 pool starts last year.  Other counties with higher levels of new pool construction include Gwinnett (221 permits, +12%) and Cherokee (198 permits, -4%).  Here is a closer look at how the top ranked Atlanta-area counties for new pool construction stacked up from 2017-2018.

ATL Top 5 Counties for Total Pool Permits (2017 vs. 2018)

When looking at the year ahead, we reviewed Metro Atlanta counties for highest levels of growth and potential.  For example, while Walton County was on the lower end of total swimming pool starts (92 permits), it has recovered from the major drop it experienced in 2017 to now having an annual increase of nearly 120% in new pool construction (YTD-2018).  Another county on a growth track is Hall.  Since 2014, Hall County has been exhibiting annual increases ranging from 19% to 30% in pool starts; last year, there were nearly 110 swimming pool starts in Hall County, reflecting a 23% annual increase in new pool construction.  Similar and consistent growth also took place in Coweta County.  Since 2014, the area has consistently experienced increases in new swimming pool construction ranging from 3% to 31%; in 2018, Coweta County was back on the mid to higher end of its upswing with an 18% annual increase, resulting in nearly 185 new swimming pool permits for the area.

Information utilized for the graphs and above listed figures for Metro Atlanta swimming pool 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.

Florida Swimming Pool Construction Report – December 2018

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An HBW Report on swimming pool permit data for the month of December 2018

Last month, new swimming pool construction in Florida experienced a month-over-month increase of 67% in the HBW database, resulting in approximately 2,050 new permits with nearly $91M in total construction value.  Out of the five major areas reviewed (Orlando, Tampa, Jacksonville, Southeast, Southwest), the highest concentration of new permits originated from Southwest Florida (560+ permits) where the average value of construction was $45,156.  Statewide, the average value of swimming pool construction ranged from $41,038 (Orlando) to $49,868 (Jacksonville).

Here is a closer look at new swimming pool construction and the builders leading starts by area:

Southwest

The southwestern region of Florida ranked #1 for new pool construction having more than 560 swimming pool starts with a total construction value in excess of $25M for the one-month period. The average value of new construction was $45,156, and more than half of all new swimming pool permits originated from the counties of Manatee (169 permits) and Lee (158 permits).

Out of the approximately 130 active pool builders in the area last month, the following ranked as the top three for total new permits on file:

#1 – Coast to Coast Pools

#2 – Aragon Pools & Spas

#3 – Holiday Pools of West Florida

Southeast

The southeast ranked second highest for new pool construction last month, having more than 500 new permits with a total construction value in excess of $21M.  The average value of new construction was $42,532, and the highest concentration of swimming pool starts took place in Palm Beach County (208 permits).

Out of the 170 active pool contractors in the area last month, the following ranked as the top three for total new permits on file with HBW:

#1 – Swimming Pool Contractors, LLC

#2 – A&G Concrete Pools

#3 – Fountain Blue Pool Service

Tampa

In Tampa, there were 422 swimming pool starts with a total construction value of nearly $20M during the month of December.  The average value of new pool construction was $46,943, and the highest concentration of new permits could be found in the counties of Hillsborough (123 permits) and Pinellas (83 permits).

Out of the 115 active pool contractors in the area last month, the following ranked as the top three for total new permits:

#1 – Olympus Pools

#2 – Tampa Bay Pools

#3 – Gulfstream Pools & Spas

Orlando

In Orlando, there were 350 new swimming pool construction permits with a total value of nearly $14.4M added to the HBW database.  The average value of new swimming pool construction was $41,038, and the highest concentration of new construction took place in the counties of Orange (119 permits) and Osceola (97 permits).

Out of the 72 active builders in the area, the following ranked as the top three for total permits on file:

#1 – All Seasons

#2 – Bob’s Pool Service

#3 – Atlas Pools of Central Florida

Jacksonville

Last month, there were approximately 210 swimming pool starts with a total construction value of nearly $10.4M in Jacksonville.  The average value of construction was highest in Jacksonville ($49,868) in comparison to other regions reviewed, and the majority of permits originated from the counties of St. Johns (82 permits) and Duval (70 permits).

Out of the 72 active builders on file for the month, the following ranked as the top three for total new permits:

#1 – Pools by John Clarkson

#2 – Blue Haven Pools

#3 – Surfside Pools and Spas

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.

Florida Residential Construction Report – December 2018

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An HBW review of new residential construction permitting activity during the month of December 2018

FL New Resid. Permits by Area – December 2018

During the month of December, new residential construction in Florida experienced a massive 42% month-over-month increase, resulting in approximately 6,110 new permits being added to the HBW database.  Out of the five major regions reviewed (Tampa, Southwest, Southeast, Orlando, Jacksonville), Tampa held the greatest amount of new residential construction activity for the month (1,504 permits), while Orlando had the highest average value of construction (average value: $306,849).

Here is a closer look at Florida’s new home construction permits on file by region for the month of December 2018:

Tampa

Total # of Permits: 1,504

Average Value of Construction: $ 280,717

Top County for Total Permits: Polk County (418 permits)

Total # of Active Builders on File: 247 companies

Top Five Builders for Total New Permits:

Builder Total Permits
D.R. Horton 170
The Villages of Lake Sumter 154
Lennar Homes 152
M/I Homes 63
Pulte Homes 52

 

Southwest

Total # of Permits: 1,291

Average Value of Construction: $ 252,898

Top County for Total Permits: Lee County (351 permits)

Total # of Active Builders on File: 240 companies

Top Five Builders for Total New Permits:

Builder Total Permits
Lennar Homes 186
D.R. Horton 179
Pulte Homes 145
Neal Communities of SW FL 93
Taylor Morrison 32

 

Orlando

Total # of Permits: 1,282

Average Value of Construction: $306,849

Top County for Total Permits: Orange County (527 permits)

Total # of Active Builders on File: 180 companies

Top Five Builders for Total New Permits:

Builder Total Permits
Lennar Homes 204
D.R. Horton 148
Meritage Homes 78
Ryan Homes 58
KB Homes 52

 

Jacksonville

Total # of Permits: 1,139

Average Value of Construction: $230,052

Top County for Total Permits: Duval County (367 permits)

Total # of Active Builders on File: 163 companies

Top Five Builders for Total New Permits:

Builder Total Permits
D.R. Horton 286
Dream Finders Home 96
KB Homes 76
Lennar Homes 72
Mattamy Homes 69

 

Southeast

Total # of Permits: 892

Average Value of Construction: $293,689

Top County for Total Permits: St. Lucie County (303 permits)

Total # of Active Builders on File: 190+ companies

Top Five Builders for Total New Permits:

Builder Total Permits
Lennar Homes 129
D.R. Horton 66
Pulte Homes 33
GL Homes 32
Synergy Homes 30

 

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.

Texas Top Swimming Pool Builders – December 2018

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An HBW report on new swimming pool construction permits and leading pool builders in Texas during the month of December 2018

During the month of December 2018, there were approximately 670 swimming pool starts with a total value of nearly $36 million added to the HBW database for Texas.  Out of the four major metro areas reviewed (Dallas, Houston, Austin, San Antonio), Dallas held the highest concentration of new permits (360+), while Austin held the highest average value of construction (average value: $72.3k).  The following is a breakdown of new swimming pool construction throughout Texas during the month of December by region:

Dallas

The Dallas area ranked #1 for new pool construction in December having more than 360 swimming pool starts with a total construction value of nearly $17.7 million.  The average value of new pool construction for the month was $48.6k, and more than half of all new construction took place in the counties of Collin (99 permits) and Denton (95 permits).

Out of the more than 120 active pool builders in the Dallas area last month, the following ranked as the top five for total new permits on file for the one-month period:

#1 Riverbend Pools
#2 Gold Medal Pools
#3 Foley Custom Pools
#4 Hauk Custom Pools
#5 Premier Pools

 

Houston

Last month, there were nearly 150 swimming pool starts with a total construction value of $7.8 million in Houston.  The average value of new pool construction was $53.2k, and nearly half of all new construction activity took place in Harris County.

Out of the more than 85 active pool builders in the area last month, the following ranked as the top five for total new permits on file:

#1 Platinum Pools
#2 Anthony & Sylvan Pools
#3 Cypress Custom Pools
#4 Premier Pools
#5 Southern Charm Pools

 

Austin

In Austin, there were approximately 115 swimming pool starts with a total construction value in excess of $8.2 million.  The average value of new pool construction was highest in Austin (average value: $72.3k) in comparison to the three other major metro areas reviewed, and more than half of all new construction took place in Travis County (69 permits).

Out of the approximately 65 active pool builders in the area last month, the following ranked as the top five for total new permits on file:

#1 Cody Pools
#2 Anthony & Sylvan Pools
#3 Tri County Pools
#4 Majestic Poolscape
#5 California Pools of Austin

 

San Antonio

In San Antonio, there were approximately 45 swimming pool starts with a total construction value of nearly $2.1 million on file for the month of December, and nearly all new construction activity took place in Bexar County (35 permits).  The average value of new pool construction was on the lower end of the spectrum at $47.6k+ in comparison to other metro areas, and out of the 18 active pool builders in the area last month, the following ranked as the top five for total new permits on file with HBW:

#1 Keith Zars Pools
#2 Cody Pools
#3 Blue Haven Pools
#4 Backyard Vacation Oasis
#5 Pool Concepts by Pete Ordaz

 

To gain more information on the pool builders 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.

Texas Residential Construction Review – December 2018

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An HBW report on the latest residential construction permit data in Texas for the month of December 2018

Last year, Texas ended on a high note in new home construction.  During the month of December, there were 6,430 housing starts with a total construction value of approximately $1.6B, reflecting major month-over-month increase in HBW permits (>60%).  During the one-month period, Houston held the greatest total number of new residential construction permits (~ 2,720 permits), while Dallas continued to hold the highest average value (average value: $295,077) of new home construction.  From a builder perspective, D.R. Horton continued its lead and dominance in the new residential construction market having maintained its ranking as #1 home builder, month after month, for total housing starts in nearly all areas reviewed.

Here is a closer look at new residential construction permitting activity in Dallas, Houston, Austin and San Antonio for the month of December 2018:

Houston

Last month, Houston had the greatest total number of housing starts out of the four major metro areas reviewed.  There were nearly 2,720 housing starts with a total construction value in excess of $565 million for the one-month period.

Average Value of Construction: $208,019 (lowest average value)

Top County for Total Permits: Harris County (1,427 permits)

Top Builders for Total Permits:

Builder Total Permits
D.R. Horton 350
Lennar Homes 223
Camillo Properties 202

 

Dallas

During the month of December, Dallas ranked a close second for new residential construction having just over 2,420 housing starts with a total construction value in excess of $714 million.

Average Value of Construction: $295,077 (highest average value)

Top County for Total Permits: Tarrant County (793 permits)

Top Builders for Total Permits:

Builder Total Permits
D.R. Horton 553
Lennar Homes 206
First Texas Homes 129

 

Austin

In Austin, there were more than 900 housing starts last month, holding a total construction value of more than $238 million.

Average Value of Construction: $263,090

Top County for Total Permits: Travis County (628 permits)

Top Builders for Total Permits:

Builder Total Permits
D.R. Horton 172
Pulte Homes 54
KB Homes 53

 

San Antonio

In San Antonio, there were nearly 385 housing starts with a total construction value of more than $82 million last month, and the majority of new construction took place in Bexar County.

Average Value of Construction: $214,529

Top County for Total Permits: Bexar County (242 permits)

Top Builders for Total Permits:

Builder Total Permits
Lennar Homes 49
Continental Homes of Texas 39
KB Homes 35

 

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.

Three Futuristic Construction Innovations to Watch

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While the construction industry tends to be the slowest to pick up new technology, some of that appears to be changing.  New innovations and technology in construction are being developed, and it looks like a few of them could make a major impact (and improvement) on construction materials and building methods.  Here are three construction innovations that are both futuristic and realistic:

  1. 3D Printed Houses – 3D printed houses have been gaining recognition and provide us a glimpse into the future of construction.  The first company to build a 3D printed home was Chinese company WinSun, and in 2013, it printed ten homes in just a 24-hour period. Fast forward to 2017, just four years later, and we have Apis Core in San Francisco which successfully built a low-slung dwelling in Russia on location in a single day; the cost was just $10k. In addition to being quick to build and economical, 3D printed homes have the potential to serve an important purpose in areas where there is a high demand for new housing, such as post-disaster (hurricanes, tsunamis, earthquakes) and in underserved cities/towns where the poverty level is high. 3D printing could play an important role in the industry’s labor shortage, as well as open the doors to creative new designs in construction.
  2. Bamboo Buildings – Bamboo could possibly be the perfect natural building material. There is plenty of it available and the plant can grow up to four feet per day; it also regrows without the need for replanting. In addition to being sustainable and renewable, it is reportedly stronger than steel (2-3 times stronger) and more resilient than concrete. Along with its strength, it is also quite flexible, lending itself to construction in areas vulnerable to earthquakes.
  3. Smart Bricks – Did you ever enjoy building Lego sets? Well, get ready to put your skills to good use as some of the biggest Lego-style projects may one day make their way into real world construction.  An Israeli company by the name of Kite Bricks has been developing a new generation of bricks, called Smart Bricks; these bricks are built in a high-resistant concrete and designed to be easily joined together, just like your favorite Lego sets.  Smart bricks are very versatile and offer substantial thermal energy control.  Just as with 3D printing, smart bricks have the potential to reduce construction costs, and since they are modularly designed, they require little training to assemble and provide space for insulation, electricity and plumbing.

With these innovations, we have a chance to take sneak peek into the future of our industry, and they are opening the doors to more affordable, sustainable and cost-effective possibilities.

For more information on construction industry trends and business tips, stay connected with the HBW Blog.  To get ahead of construction activity and gain access to the latest permitting data in Florida, Texas, Georgia, Alabama and Oklahoma, contact HBW for more information on construction data reports and industry leads.

Upgrade Your Online Marketing in 2019

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With the new year comes opportunity for new marketing strategies.  And while you have probably defined your marketing strategy and campaigns for the coming year, it is never too late (or too early) to fine-tune your marketing efforts.  In recent posts, we have explored “Holiday Marketing Must-Haves” and “Tips for Content Marketing Success”, but today we are taking a wider approach to your marketing strategy by addressing ways to improve you email marketing and Search Engine Optimization:

Email Marketing

Did you know that marketing emails are 40 times more effective than posts on social media?  It is easy to get wrapped up in social media and its analytics, but don’t overlook the power of email marketing.  Ways to amp up your game in 2019 include:

  1. Professional Email Templates – There are numerous email marketing platforms available, many for a limited cost. Rather than attempting to craft a creative and eye-catching email on your own and directly from your outlook or email service provider, check out some of the professional templates offered by third-party companies that will increase the likelihood of getting your products and services noticed.
  2. Organize Contacts – Have you updated your contact lists? Are you monitoring your clicks, subscribers and open rates?  If so, you will want to update your contact lists accordingly.  While you have a valuable source for qualified prospects through HBW, you will want to make sure to have a system for managing, tracking and organizing those contacts.  You can import new and existing contacts into a format that allows you to organize them according based on specific criteria (i.e. location).
  3. Schedule and Automate – Crafting and distributing emails one-by-one is time consuming and often leads to missed opportunities. Plan and automate your emails in the coming year to stay ahead and send the right emails with perfect timing, automatically.

 

Search Engine Optimization (SEO)

Optimizing your website for better search result rankings on search engines such as Google can be easier than you may think.  In addition to posting keyword and relevant content on your website, you can use tools to give a boost to your results:

  1. Get Social – Having an active social media profile already increases the likelihood that your company will be found considering that much search activity occurs within and through social networks. Major networks such as FaceBook, Twitter, Instagram and LinkedIn are a great place to start, but just be sure to have a link back to your website within your profile and relevant posts.
  2. Metadata – Discuss metadata with your website designer/manager. Three types of metadata include: title metadata (page titles); description metadata (textual description that a browser may use in your page search return); keyword metadata (key search words or phrases).  Make sure that your metadata reflects your primary services and popular search strings relevant to your company’s offerings.
  3. Targeted Advertising – If you are planning on running any ads online, make sure that you are running targeted ads. With the technology today, there are ways to directly reach your target audience with the right content at the right time which will increase the number of visitors to your website.
  4. Monitor Your Website – Tracking your website performance and visitors is important in identifying what works and doesn’t work in your pages, campaigns and ads. Check out Google’s webmaster tools as it serves as a great reference for understanding your Google site stats.

For more information on construction business and marketing tips, stay connected with the HBW Blog.  To get ahead of construction activity and gain access to the latest permitting data in Florida, Texas, Georgia, Alabama and Oklahoma, contact HBW for more information on construction data reports and industry leads.

Home Construction Increased by 3.2% in November

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While home construction was up last month, single-family home construction was down for the third month in row.

According to the Commerce Department, and as reported on CNBC (source: CNBC video report), last month housing starts increased 3.2 percent to a seasonally adjusted annual rate of 1.256 million units; this increase was mostly due to the surge in multi-family housing projects – Building permits increased 5 percent to a rate of 1.328 million units during the month of November fueled by the increase in the fluctuating multi-family housing sector.  That being stated, single-family home construction declined for the third straight month, reflecting a 1.5 year low.  Based on the decline, some economists have expressed concern that it is sign of a slowing economy.

Contributing factors to the decline in single-family home construction go beyond simply a slowing economy.  The housing market is currently being limited by higher mortgage rates.  Additionally, limited land and the ever-growing labor shortage have also caused much of the housing market (and construction industry) to become sluggish in some areas.  As a result, inventory has tightened, and land constraints have also contributed to the limited single-family housing starts.  On top of that, there is the issue of affordability…  Although house price inflation has slowed, it is still above wage growth which can especially be problematic for bringing in first-time homebuyers.

According to Reuters, homebuilding investment was expected to have declined in the fourth quarter of 2018, and the “soft patch” is predicted to continue through the first half of 2019. The report also provided a breakdown of where single-family starts were up, and where the greatest drops could be found:

Southern U.S. – The South accounts for the majority of homebuilding, and in contrast to the overall dip nationwide, single-family housing starts jumped 6.8 percent in the South last month.

Northeast U.S. – Single-family starts in the Northeast took a dive in November, having experienced a 9.5 percent month-over-month decrease.

Western U.S. – With the devastating wildfires in California, it should come as no surprise that the West had the most dramatic month-over-month drop in single-family housing starts having a 24.4 percent decrease.

Midwest U.S. – During the month of November, single-family housing starts dropped 3.2 percent in the Midwest.

When looking at the latest permit activity, new permits for single-family home construction across the nation moved up ever so slightly by 0.1 percent. The total number of permits is now above the level of actual single-family starts, which may be indicative of an impending boost in new residential construction overall.

To gain more information on the builders, homeowners and permits for new construction, 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.