housing starts up 59% in DFW!

April 6, 2010 — Leave a comment

just in case you missed the star-telegram article let me be the first to tell you that housing starts in DFW for single family homes took their sharpest quarterly jump since 1983!  Q1 of 2010 builders started 3460 houses in north texas which represents a 59% jump from Q1 of 2009 when only 2172 houses were started, according to Metrostudy, a real estate market researcher.  for the past few years there has been a decline in starts which has led to a decline in inventory.  currently inventory in north texas stands at around 8,390 new homes which represents the lowest level since 1993 and a whopping 68% below peak levels in 2006.  Metrostudy indicated that “home builders are responding to the lack of new home inventory available in the market…with a 17-year low, home builders need to increase the starts pace close to the closings pace for 2010”.  check out the online star-telegram article here http://tinyurl.com/ydrsyhx
NEED MORE HOUSING DEMAND TSUNAMI PROOF???

according to John Canally, an economist at LPL Financial, “we’ve gone a couple years now where we are SEVERLY underbuilding new homes….it could be a 2012 issue where household formation has far outstripped number of new housing units and new home building returns in high demand”.  see full article on smartmoney http://tinyurl.com/ybz7d6v

according to cole the housing demand tsunami continues to swell AND the real estate sky is NOT falling.

much success – cole

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