Dallas Home Builders Are Back – But See How New Homes Are Way Below Historic Levels.

t2_site_analysisBy 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