In a recent report by Homes.com, Houston ranks No. 8 in the U.S. for the newest homes for sale, with 29.3% of listings being built in 2000 or later.
According to the National Association of Home Builders, more permits were issued last year for new-home construction in the Houston area than anywhere else in the country. To be exact, the Houston area logged 48,208 new single-family home construction permits in 2020, beating Dallas-Fort Worth (43,884), Phoenix (31,724), Atlanta (28,057) and Austin (21,653).
Source: Top U.S. Cities to Find the Oldest and Newest Homes for Sale, Home.com
Top 10 locations for the Newest Homes being Sold
1. New Orleans – 40.8%
2. Raleigh, NC – 38.4%
3. Nashville, TN – 35.4%
4. Austin, TX – 34.6%
5. Atlanta, GA – 34.4%
6. Miami, FL – 33.9%*
7. Charlotte, NC – 33.9%*
8. Houston, TX 29.3%
9. Las Vegas, NV – 28.9%
10. Boston, MA – 27.7%
Building Permits Comparison: 2021 vs. 2020
As advancements in technology, manufacturing, and agriculture expanded employment opportunities, people began relocating and so new construction is the answer to the experienced population growth after the year 2000. It’s also important to note that statewide home sales increased 9.4% despite the pandemic as families who bought a house were those who are more likely to be able to work from home, according to Texas Real Estate Research Center, Furthermore, the Texas Residential Construction Cycle (Coincident) Index, increased to its highest level within a year because of improved industry employment, wages, and construction values. Construction activity is also expected to remain strong in the coming months as indicated by the Residential Construction Leading Index.
Source: Texas Housing Insight, Texas Real Estate Research Center
Source: Building Permits by State and Metro Area, NAHB
Source: Building Permits by State and Metro Area, NAHB
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