DFW Construction Update – How Many Homes and Apartments Are Coming to The Dallas Area?
Posted On 8:25 pm
By Heath Olinger
DALLAS, TX. – One of the biggest problems that we’ve faced in the DFW Real Estate market is that supply has been lower than demand over the last 5 years.
Thankfully, we know that more construction permits have been pulled in the DFW area recently and that means we can also expect to see a lot more apartments and homes being started in the coming months as well.
What to Expect with Local Construction
New residential construction in Fort Worth is outpacing all other municipalities in the metro, according to a Dallas Morning News analysis of the U.S. Department of Housing and Urban Development data.
The city logged 5,053 new home building permits in the first six months of the year, according to preliminary data from the federal agency. The majority of the permits — 2,763 — are for multifamily developments, which include apartment complexes as well as townhomes, condos, and duplexes.
“It’s been a very active market,” said Jim Gaines, chief economist at the Real Estate Center at Texas A&M University.
Across the Dallas-Fort Worth metroplex, real estate developers have filed for permits to build more than 67,000 housing units, during the first half of 2018.
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