Monday, December 30, 2013

Houston up 28% for Residential New Construction Starts

The Nation’s Busiest Residential New Construction Markets

 by Peter Ricci                                                                                                     August 26, 2013 

 July was a very strong month for residential new construction. Not only were building permits up 2.7 percent from June to July, but housing starts and housing completions also posted monthly increases of 5.9 and 1.8 percent, respectively. Overall, residential construction is up 23 percent from last year, and has risen 45 percent since bottoming in 2009. How do those numbers, though, stack up with Houston’s residential housing market? Quite well – in fact, Houston is among the leaders of the pack. According to the latest numbers from McGraw-Hill Construction, in July, residential construction in Houston was up 28 percent from last year to $716 million, and year-to-date, the city’s incredible $4.874 billion in residential building is good for a 22 percent uptick over last year. But how are other metro areas growing?

See our graph below for some perspective:

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