Published Mar 15, 2021 by A.J. Mistretta
The Houston metro area logged 48,208 construction permits for new single-family homes in 2020, more than any other U.S. metro.
Houston beat out Dallas-Fort Worth, which logged 43,884 construction permits, according to the National Association of Home Builders. The Phoenix (31,724), Atlanta (28,057) and Austin (21,653) metros rounded out the top five.
Single-family home starts rose 20.2% in Houston last year compared with 2019. Statewide construction starts grew 18.9% year-over-year.
When it comes to overall home sales, Houston logged a 9.2% increase in transactions last year. Dallas saw a 9.8% increase and Austin 8.4%, while San Antonio logged an impressive 11.5% jump. Statewide home sales increased 9.4% despite the pandemic, which the Texas Real Estate Research Center said highlights the disparate impacts the situation has had across the socioeconomic spectrum. “In general, families who bought a house were more likely to be able to work from home and keep their jobs during the pandemic compared with many lower-income and lower-skilled renter households who struggled financially.”
According to Zillow, home values in the metro area have risen 7% over the last year and are expected to rise another 9.2% this year.
Click here to see the most recent monthly home sales data.