Steve Brown of the Dallas Morning News, reports what we all suspected. The market in the Dallas area is healthy and still inclined toward the seller's advantage. So it's a great time to sell and the advantage you gain in selling will well equip you for being an aggressive and competitive buyer.
Keep in mind, the new home building industry is an easy to read thermometer for the overall housing industry. When there is an oversupply of new homes, there is likely the same condition in pre-owned homes and vice versa.
What this all means to you and me is that our jobs are safe, our incomes are steady, our home values are on the rise, and we can sell your house quick as ever.
Here's Brown's article:
Dallas-area homebuilders can’t keep up with demand for new houses
North Texas homebuilders couldn’t keep up with buyers in the final
months of 2013, as new home sales rose to the highest point in more than
Builders sold 5,218 new homes in the Dallas-Fort Worth area in the fourth quarter. But starts for the three months came in at only 4,514 houses — the lowest quarterly production in almost two years.
starts were held in check by December’s weather and construction
constraints including tight labor and shortages of building sites, said
Ted Wilson, principal with Dallas-based housing analyst Residential
Strategies. “They have been ready to pour foundations, but the
weather has not been good enough,” Wilson said. “It will push some
business that normally would have come in the fourth quarter into the
Finding enough construction workers to meet
homebuilding demand won’t be as easy as waiting for a change in the
weather. Labor constraints have been haunting the local housing market
since 2012. “When there is so much talk nationally about a need
for jobs in the U.S., it is ironic that the D-FW new home industry is
facing a labor shortage,” Wilson said. “The housing downturn
wiped out a lot of companies that served the housing industry, and it is
taking a long time to bring workers back, especially when there are
vibrant industries such as oil and gas and trucking competing for many
of these same workers.
“There are shortages of bricklayers,
framers, you name it,” he said. “Homebuilders are also having to compete
for workers with other parts of the real estate market.”
construction labor shortages have increased the average time it takes to
build a house in North Texas by as much as a third.
“Typically it takes 120 days to get a house built,” Wilson said. “That’s up by 40 days. “There is such a backlog they may sell a house and not be able to start it for three months.”
about 2,800 finished, vacant new houses were on the market in the D-FW
area at the end of the year. That’s less than a two-month supply,
Residential Strategies found. D-FW home starts in 2013 were almost 60 percent ahead of where they were at the bottom of the recession in mid 2009.
with 20,778 home starts in all of 2013, builders have a long way to go
before the market is back to where it was in 2006 when almost 50,000 new
houses were started in the area.