A summary of the latest residential construction permit data on record for Texas with HBW for the month of February 2023
During the month of February, the Lone Star State experienced a 5 percent month-over-month increase in new residential construction, resulting in approximately 3,710 new permits with a total construction value of nearly $1.1 billion added to the HBW database. Out of the four major metro areas reviewed (Dallas, Houston, Austin, San Antonio), Houston held the highest concentration of new home construction (1,736 permits), while the highest average value of construction could be found in Austin (average value: $339,736).
Here is a closer look at the total number of new residential permits and related construction activity on record with HBW for the month of February:
As previously noted, Houston carried the greatest volume of new home construction in comparison to other Texas metro areas reviewed, having 1,736 new permits with a total construction value of $453M on record for the one-month period. The average value of new residential construction was $260,962, and more than half of all new permits originated from the County of Harris (915 permits).
Dallas ranked #2 for new home construction last month, having 1,156 new permits with a total construction value of nearly $385M on record with HBW. The average value of new residential construction projects landed on the higher end of the spectrum in Dallas (average value: $332,952) in comparison to other areas reviewed, and more than half of all new construction activity for the month took place in the counties of Tarrant (338 permits) and Collin (267 permits).
In Austin, there were approximately 430 new permits with a total construction value of nearly $146M last month. The average value of construction in the Austin area (average value: $339,736) was higher than any other Texas region reviewed, and the county with the highest concentration of new home construction activity on record for the month was Travis with 193 new permits.
Last month, there were nearly 390 new residential construction permits with a total value of approximately $92.5 million in the San Antonio area. The average value of new home construction was lowest in San Antonio (average value: $238,322) in comparison to other regions reviewed, and the majority of permits originated from Bexar County (217 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.