t2 Real Estate | 214-827-1200
By Troy Corman, t2 Real Estate
As I walk my dog Lady, or she walks me, throughout lower Greenville Avenue and parts of the M-streets and Lakewood, I notice more new home sites popping up. Some are in the midst of construction, while others are freshly scraped lots, and some are simply marked with survey flags.
As a Dallas Realtor that sells land in Dallas and north Texas, I’ve also noticed a dramatic pickup in builder or investor-types calling on my Dallas land for sale versus a year earlier. It’s quite obvious that despite the still strict residential construction financing environment, some wealthy individuals have put their money behind local Dallas – Fort Worth home builders. It seems the home builders have regained their mojo.
Looking at the historical data, I was shocked to find out just how much room there is to run for the new home building industry in Texas. In 2012, 12,740 single family home permits were issued in Dallas, the highest total since 2007, when 19,511 were issued. But between 1992 and 2007, new home permits in Dallas never fell below 14,769 homes. Will Dallas be able to finally top 1992 levels (21 years ago) of 14,769 homes? Time will tell, and we’re off to a good start as January permits were up 15.9% at 1,050 homes, while the average price came in at $268,700.
If you have lots or land to sell, or if you’re looking for land, or if you just have questions, I would love to help. Feel free to contact me at troycorman@t2realestate.com, or 214.827.1200.
Below are the totals for the Dallas MSA, courtesy of the Texas ATM Real Center and the U.S Census.
2012 – 12,740 permits
2011 – 10,744 permits
2010 – 10,741 permits
2009 – 9,814 permits
2008 – 12,253 permits
2007 – 19,511 permits
2006 – 28,513 permits
2005 – 31,696 permits
2004 – 32,101 permits
2003 – 27,418 permits
2002 – 24,978 permits
2001 – 25,689 permits
2000 – 25,726 permits
1999 – 22,974 permits
1998 – 22,645 permits
1997 – 19,434 permits
1996 – 18,042 permits
1995 – 15,651 permits
1994 – 15,881 permits
1993 – 15,827 permits
1992 – 14,769 permits
1991 – 11,224 permits
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