A monthly overview of new home construction in the Lone Star State during the month of July 2021
According to Census data released earlier this year, Texas continues to lead the United States in raw population growth. The U.S. Census Bureau reported that the Lone Star State had 373,965 more residents in 2020 than in 2019, a bigger increase in raw numbers than in any other state. Additionally, in a more recent update to the Census Report, it was noted that Texas had the largest numeric growth in housing units with 1,611,888. (source: Census.gov)
For this reason, it should come as no surprise that HBW’s construction data reports have reflected major gains in housing starts throughout Texas since the start of this year. And more recently, the monthly residential construction reports for July reflect a 2 percent month-over-month increase in new home construction across the four major metro areas of Texas (Houston, Dallas, Austin, San Antonio), resulting in more than 7,830 new residential construction permits being added to the HBW database.
Here is a closer look at the total permits, leading counties and average value of housing starts in Texas during the month of July:
Houston ranked #1 for housing starts last month, having approximately 3,510 new residential construction permits with a total value of $846.5 million on record with HBW. The average value of new home construction was $241,236, and just about 75 percent of all new construction activity took place in the counties of Harris and Montgomery where there were 1,573 and 991 new permits respectively.
In Dallas, there were approximately 2,535 housing starts with a total construction value of $695 million on record with HBW last month. The average value of new home construction landed on the higher end of the spectrum (average value: $274,149) in comparison to other Texas regions reviewed, and just over 60 percent of all new permits originated from the counties of Tarrant (820 permits) and Collin (712 permits).
Last month, there were nearly 960 housing starts with a total construction value of $269.5 million in the Austin area. The average value of new home construction was highest in Austin (average value: $281,333) in comparison to other Texas areas reviewed, and 83 percent of all new construction activity took place in the counties of Travis and Williamson where there were 447 and 352 new permits respectively.
In San Antonio, there were 830 housing starts with a total construction value of nearly $187 million last month. The average value of new home construction was lowest in San Antonio (average value: $225,057) in comparison to other Texas areas reviewed, and more than half of all new home construction activity took place in Bexar County where there were 440 housing starts during the one-month period.
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.