From top builders to top counties for housing starts, here’s a quick look at Texas residential construction for the month of May.
May was an exceptional month for new residential construction in Texas. Out of the four major metropolitan areas reviewed (Houston, Dallas, Austin, San Antonio), there were close to 7,500 housing starts and a total of approximately $1.8B in construction value last month. As per its usual pace, Houston took the top spot for total housing starts with nearly 3,500 new residential construction permits for the one-month period. While the lineup of top builders varied per area, D.R. Horton continued to dominate the Lone Star State’s new residential construction market landing the top spot for total permits in three out of four areas reviewed (Houston, Austin, Dallas).
Hello Houston! Houston is not just experiencing heat in the rising temperatures this time of year… The residential construction market is also heating up. With nearly 3,500 housing starts and more than $676M in total value, Houston experienced a massive month-over-month increase of 68% in new residential construction. In fact, May is the best month on record so far this year. While Harris County held more than half of all new construction (1,915 permits), Fort Bend also saw its fair share of housing starts last month, having nearly 650 new permits and more than $110M in construction value on file with HBW.
Last month, Dallas experienced a 21% month-over-month increase in housing starts and ranked second highest for total permits. During the month of May there were close to 2,350 housing starts and more than $701M in construction value. The average value of construction still reigns supreme in Dallas as it had the highest average value out of the four areas reviewed at nearly $300k. Tarrant and Collin counties both had the highest concentration of new residential construction permits for the month with 706 and 720 housing starts respectively. As previously mentioned, D.R. Horton was the leading builder in the area with nearly 450 starts for the month. Lennar Homes and First Texas Homes were next in line with less than 100 housing starts each.
With a 38% month-over-month increase in housing starts, Austin had nearly 1,150 new residential construction permits and approximately $261.4M in total construction value last month. The majority of new home construction took place in the counties of Travis and Williamson, and the average value of new construction across Austin landed it second highest at nearly $229k. D.R. Horton was the leading builder having the most housing starts on file for the month (174 permits), and KB Homes and Calatlantic Homes landed second and third for total new permits.
While most areas experienced increases since April, San Antonio had just about a 20% month-over-month drop in new residential construction activity. In May, there were more than 500 housing starts and approximately $112M in total construction value. While Bexar County carried more than half of all housing starts (267 permits), there was a healthy dose of new construction in all areas reviewed. Out of nearly 130 active builders in the area last month, KB Homes was the leading home builder in the area with 42 housing starts for the given period.
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.