Labor constraints and rising construction costs held back North Texas homebuilders in the most recent quarter.
Home starts fell slightly from a year ago as the median price of houses sold in the Dallas-Fort Worth area jumped more than 13 percent in the 3-month period ending in September.
“Builders continue to share with us their frustration” over the tight labor market which is limiting home starts and adding to construction times, said Ted Wilson, principal with Residential Strategies Inc., which tracks the D-FW home market.
While home starts were more than 3 percent lower than in third quarter 2015, Wilson said that 7,824 D-FW houses started in the same period this year was still at one of the highest levels in recent years.
Builders sold more than 7,000 houses – 3 percent more than a year ago, Residential Strategies reports. Read More >