Residential construction data reports are in and ready at HBW – According to the latest available from the HBW database, the four major metro areas of the Lone Star State (Houston, Dallas, Austin, San Antonio) had a combined total of approximately 6,060 new residential construction permits with a total value of $1.65B during the month of August; this figure reflects a 23 percent month-over-month decrease in new home construction.
Out of the four metro areas reviewed, Houston maintained its lead for volume of housing starts having 2,832 new residential construction permits on record for the month, while the Austin area held the highest average value of new home construction (average value: $352,114).
Here is a closer look at the total permits, average value of construction and leading counties by metro area in Texas during the month of August 2023:
Houston
In Houston, there were more than 2,830 new residential construction permits with a total value of approximately $750.1M on record last month. The average value of construction was $265,120, and just about 76 percent of all new construction activity took place in the counties of Harris (1,299 permits) and Montgomery (856 permits).
Dallas
Last month, there were 2,105 new residential construction permits with a total value in excess of $577M in the Dallas area. The average value of new home construction was $274,192, and nearly half of all new permits originated from Tarrant County (993 permits).
Austin
In the Austin area, there were approximately 575 new residential construction permits with a total value in excess of $202M during the month of August. As previously mentioned, Austin carried the highest average value of new home construction (average value: $352,114) in comparison to other areas reviewed, and the bulk of new residential construction activity took place in the two counties of Travis (246 permits) and Williamson (180 permits).
San Antonio
Not far behind Austin, the San Antonio area had nearly 550 new residential construction permits with a total value of $120.4M on record with HBW last month. The average value of new home construction was $219,726, and the majority of all new residential construction permits originated from the County of Bexar (353 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.