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Houston 2nd In New Home Construction

 “This past quarter we drove 1,478 new home subdivisions across the Houston area, and only 17 of them did we document any flood damage,” says Lawrence Dean regional director for Metrostudy in Houston

Greater Houston saw the production of almost 28 thousand new homes during the previous twelve months

The city of Houston is second in the nation for housing starts in 2017. The new home growth is despite having to deal with Hurricane Harvey.

Through the third quarter of 2017, Greater Houston saw the production of almost 28 thousand new homes during the previous twelve months. That’s 13-percent behind Dallas, which leads the nation in housing starts according to Metrostudy, a national housing and research firm.

Lawrence Dean is their regional director in Houston. He’s surprised at how little effect Harvey has had on the new housing market. “This past quarter we drove 1,478 new home subdivisions across the Houston area, and only 17 of them did we document any flood damage,” he said.

Dean believes changes in building codes is a major factor in the small percentage of new construction having been effected by the storm. He predicts the major affect Harvey will have on the new home market, is delays when closing on a house.

While Houston’s ever-growing population certainly helps, Dean credits two factors for continued growth in new homes. Retirees downsizing, and those in their twenties and thirties entering the market. “They’re reaching most notably millennials right as many millennials are getting to a stage in life where they are purchasing homes,” said Dean.

He adds that the new housing market could be affected by Harvey victims looking to purchase new homes by early 2018.

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