New home construction starts in Dallas-Fort Worth climbed slightly to start off the year, with builders pushing to expand construction capacity despite high...
Builders started construction of 15,963 homes in the first quarter, up 4.5% from a year ago.New home construction starts in Dallas-Fort Worth climbed slightly to start off the year, with builders pushing to expand construction capacity despite high materials costs and labor challenges.
Still, the local housing market faces an extreme shortage of new homes for sale, and builders have long lists of customers interested in purchasing a house. Wilson said higher mortgage rates will price many first-time buyers out of the market. The average 30-year fixed-rate mortgage rate was 4.72% the week of April 7, according to Freddie Mac.
The median home sale price for existing homes in North Texas is now at $380,000, up 22% from last year.
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