Surprising news on the new-home front is that over the last three years Dallas-Fort Worth builders have sold more homes than they have constructed and inventory of brand new homes is at all all-time low. During the last two years builders in North Texas have sold 13,000 more houses than they have started building. Current inventory is below 5,000 new homes, an estimated three-month supply. Unlike other states, Dallas never had a real over-supply of new homes, an economist with the Real Estate Center at Texas A&M University reported.
Award-winning homebuilder, Bill Darling, reports it is difficult for his company Darling Homes to start building due to the tight credit restraints and Tim Jackson, President of the Home Builders Association in Greater Dallas, predicts that new house prices will rise next year unless more homes are started. Builder D.R.Horton Inc has started 844 houses in the third quarter of 2009 but building is not likely to pick up until a couple of quarters after the official bottom in the annual start rate. Builders hope that will be in early 2010.
Tags: builders, new homes, trends
