A recent study found that Texas is leading the nation in new home construction rates.
Analysts with RubyHome Luxury Real Estate leveraged data from the U.S. Census Bureau’s 2022 American Community Survey to glean a better understanding of new builds in the U.S. housing market.
They found that Texas had the highest new build figures between 2010 and 2022. Roughly 2.5 million homes were built within this 12-year span, which amounts to an impressive 22.5% of the national total of approximately 11 million.
“It is unsurprising that Texas has topped the study for new-build properties. Gaining more new residents than any other state between 2000 and 2022 with over 9 million, the rate of housing construction has increased to meet the state’s demand,” said a spokesperson from RubyHome, according to RISMedia.
As reported by The Dallas Express, homebuilders in North Texas broke ground on more than 13,000 new single-family homes during the third quarter of 2023. While this marks a slight decrease from the previous quarter, it is a 39% increase compared to the same period last year, according to data from Dallas-based consulting firm Residential Strategies.
Across the Dallas-Fort Worth area, developers of residential constructions have been trying to keep pace with the rising demand caused by growing business and capital investment interest in the region. For instance, Walmart just launched a massive, automated fulfillment center in Lancaster that will require 1,000 full-time workers on staff.
Yet amid this prosperity, Dallas has one of the worst housing shortages in the country. The situation has not been aided by the city’s Development Services Department, which has seen periodic delays and backlogs under City Manager T.C Broadnax.
Nationwide, RubyHomes’ analysis found that over 15.7 million of approximately 131 million homes had been built since 2010. While this amounts to nearly 12% across the United States, 23 states had a higher rate of new-build homes during the studied period than the national average.
While Texas residents are the most likely in the nation to be living in a home built in the past 12 years, other states boasting high shares of new homes include North Dakota (20.74%), Utah (20.65%), Idaho (20.01%), South Carolina (19.75%), North Carolina (18.17%), Nevada (16.74%), Delaware (16.49%), Colorado (16.30%), and Tennessee (15.73%).
These states made it into the top 10, with post-2009 builds accounting for at least 15% of their housing stock, whereas the lowest figures were posted by Rhode Island (4.59%) and Connecticut (5.74%).
“Interestingly, the Southern and Western states ranked highest in the study … while many states in the Northeast were named among the states with the lowest rate of new-build homes,” said the RubyHome spokesperson.
