Dallas-Fort Worth builders started 8,812 houses in the second quarter — the greatest quarterly building total since fourth quarter 2006, housing analyst Residential Strategies Inc. reports. Builders sold 8,244 homes in the second quarter, up almost 13% from a year earlier, scaling a new peak in quarterly sales since the summer of 2007. Starts during the period were 12% higher from second quarter 2016 — most of the rise in home construction came for houses priced under $300,000. With the high demand for more lower priced inventory homes, the median price of new homes started in the area fell to $344,094, down from almost $352,000 a year earlier.
Higher land and materials costs, and a shortage of labor have inflated the price tag on new houses, however with brisk demand at prices under $500,000, builders are answering the need. The biggest increases in starts during the quarter were in Celina, Southwest Fort Worth, Forney, Wyly, the Colony and Princeton.
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