A review of permit data for new residential construction in Texas through the third quarter of 2022
So far this year (thru Q3-2022), Texas has reflected a decline in new home construction as there has been a 5 percent year-over-year decrease in housing starts. Based on HBW’s Building Activity Trend Report for the four major metropolitan areas of Texas (Dallas, Houston, San Antonio, Austin), there has been a combined total of more than 70,600 new residential construction permits added to the HBW database through the third quarter of this year. All major metro areas reviewed (with the exception of San Antonio) exhibited year-over-year declines in new home construction ranging from -3 percent (Dallas) to -8 percent (Houston).
Here is a closer look at new home construction activity through Q3-2022 in each of the four major metro areas of the Lone Star State:
Out of the four Texas regions reviewed, Houston held the highest volume of new home construction, having approximately 29,660 new permits on record with HBW through the third quarter of this year; while new home construction in the Houston area has been on the rise for more than five years, so far this year the region has reflected an 8 percent year-over-year decrease in new permits. Out of the five counties that make up the Houston area, nearly 75 percent of all new construction took place in the counties of Harris (12,206 permits) and Montgomery (9,292 permits).
With 24,020 new residential construction permits through the third quarter of this year, the Dallas area has exhibited the 3 percent year-over-year decrease in new home construction. More than half of all new permits originated from the two counties of Tarrant (7,005 permits) and Collin (6,404 permits), with both counties demonstrating year-over-year decreases in new home construction of 2 percent and 28 percent respectively.
Out of all Texas regions reviewed, the Dallas areas carries the greatest concentration of higher value (>$500k) housing starts, having just over 2,685 new residential construction permits with values in excess of $500k through Q3.
Like most Texas areas reviewed, the Austin area appears to be behind last year in terms of new residential construction through the third quarter. From January through September of this year, there have been 9,860 new residential construction permits added to the HBW database for the Austin area, reflecting a 6 percent year-over-year decrease in new home construction. Out of the four counties that make up the area, more than half of all new residential construction took place in Travis County where there have been approximately 5,053 housing starts so far this year (thru Q3-2022).
Out of the four Texas metro areas reviewed, San Antonio is the only area to reflect an uptick in residential construction. Through the third quarter of this year, there have been more than 7,060 new permits added to the HBW database for San Antonio, reflecting a 4 percent year-over-year increase in new home construction. Out of the three counties reviewed, the bulk of all new permits originated from Bexar County (~4,125 permits), where there has been a 22.5 percent year-over-year increase in new home construction.
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.