D-FW builders took fewer single-family home permits in November
Dallas-Fort Worth builders filed fewer permits in November to build new homes.
Building permits for single-family homes were down 3.7% from November 2020 totals – the fourth consecutive month that permits were lower year over year.
The builders have been granted building permits to start 3,523 D-FW homes, according to the latest data from the Texas Real Estate Research Center at Texas A&M University.
With huge backlogs of homes sold but unfinished, builders aren’t taking as many building permits for homes that they might not be able to start for months.
âIf you can’t finish them in a timely manner and continue to start more homes, your work in progress is going to continue to climb,â said Ted Wilson, director of housing analyst based at Dallas Residential Strategies.
D-FW homebuilders are starting around 58,000 single-family homes this year – a new record according to Residential Strategies.
Wilson said home builders in the area were operating at full capacity and facing delays due to labor shortages and supply chain issues.
âThere are a lot of unmet demands and there is frustration with the difficulty of building houses,â he said.
Even with the declines of recent months, D-FW Builders have received permits to start 46,544 single-family homes in the first 11 months of 2021. This is about 17% more than in the same period of l last year, according to the Texas Real Estate Research Center.
Recent declines followed strong increases earlier in the year.