Where are all the new homes being built? Realtor.com points out that while home construction across the country is slowing down there are areas where foundations are being poured, frames are being erected, and contractors are contracting! To come up with their list they list they analyzed census data to find the most residential construction permits for single-family homes, condos and co-ops, apartments, townhouses, and duplexes.
Despite the fact that new homes tend to be more expensive than existing ones—about 26% pricier, thanks to high labor, materials and land costs—they help to keep runaway home prices at least somewhat in check by providing buyers with more options. It’s the housing circle of life: “Markets that add inventory keep housing affordable and in turn attract more businesses and startups in those areas,” said the NAHB’s chief economist, RobertDietz.
Their top 10 cities with the most new homes are:
- Dallas, TX
- Houston, TX
- New York, NY
- Atlanta, GA
- Phoenix, AZ
- Los Angeles, CA
- Austin, TX
- Orlando, FL
- Seattle, WA
- Washington, DC
Click here to read the full story on Realtor.com.
