Red-hot housing market: Why home construction is taking so long
Builders are trying to catch up to staggering demand.
DALLAS — We keep hearing about the housing shortage. Can’t they just build more? Well, they’re trying. The Houston and Dallas metros come in at No. 1 and No. 2 for the most permits in the country so far this year for new single-family homes.
According to Census Bureau data for January through April, there have been 18,022 building permits issued in the Houston area and 17,732 in the DFW area.
It’s so competitive in Texas right now, it’s hard to even find land to build on. Residential construction expert Ted Wilson said the supply of vacant lots has declined from a normal 24-month supply down to under a 16-month supply.