Primarily using data and insight from Hanley Wood’s Metrostudy and Meyers Research, the BUILDER staff takes a deep dive into the state of housing in six of the nation’s top metropolitan areas for new-home construction: Dallas-Fort Worth, Denver, Miami, Phoenix, Seattle, and Washington, D.C., which includes its surrounding Maryland and Virginia suburbs.
Each of these active housing markets appear within the top 20 on our 2019 Local Leaders list, which highlights the 50 largest new-home markets in the U.S., ranked by closings. The following reports offer some insight as to how each of these markets will fare in 2020. Each one is chock-full of data, from the number of quarterly starts and closings in third quarter 2019 to median new-home prices and available lots. One thing that is consistent across all six of these areas is job growth, which is a positive economic sign. However, it comes as no surprise that housing affordability is still a major pain point for some of the markets in this group. Read on to see how regional directors in these areas think their markets will fare in 2020.
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In Dallas, Home Supply and Demand Remain High as Buyers Adjust to ‘New Affordable’
The median home price in Dallas-Fort Worth has risen about $100,000 since the recession.
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South Florida Market Sees Continued Demand in Single and Multifamily
Lennar continues to dominate with communities Aqua Bella, Isola, and Via Ventura holding top rankings.
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Housing May Be Hot in Phoenix, But It’s Still Affordable
Even with climbing rents, Phoenix is still one of the most affordable places to live in the U.S.
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Expanding Population, Job Bases Driving New Home Starts in D.C. Metro
Some Maryland markets face capacity issues, while Northern Virginia feels the Amazon effect.
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Residential Construction Remains Strong in Denver
New-home sales contracts are starting to pick up again, as builders shift to smaller, more affordable product.
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Tech Sector Bolsters Housing Market for Seattle, Surrounding Area
Q2 2019 was the best second quarter for detached new construction sales volume since 2006.
