COLLEGE STATION – Residential building permits in North Texas have slid over the past year, reports the Dallas Morning News. Supply-chain issues continue to be a major factor behind the decline, says a housing expert with the Texas Real Estate Research Center.
“The constant supply-chain issues have resulted in a growing back-log of homes either under construction or waiting to begin construction, according to national data from the Census Bureau covering up to April,” said Center Lead Data Analyst Joshua Roberson. “The story is no different in DFW, where demand has acutely outpaced construction output.”
Roberson said that while Texas, and DFW in particular, has been operating at capacity, “signs of weakness are emerging in the national new home market.”
Sales of new homes have gradually fallen since January, according to seasonally adjusted data from the Census Bureau. The biggest drops were in March and April and included all Census Bureau regions, including the South, which contains both Texas and Florida.
“We’ll know by the end of the summer how robust the Texas market is performing in light of rising economic uncertainty,” Roberson said.