Friday, August 09, 2013
Homebuilder Ranks Rebounding in Dallas-Fort Worth Area
After North Texas lost more than half of its major homebuilders during the recession, more players are entering the local residential building business.
And it’s no wonder they are coming back — the Dallas-Fort Worth area is rated one of the top three markets for new home sales in the country.
New home starts in the D-FW area are up almost 50 percent since the worst of the recession in 2009.
“At the low point in the third quarter of 2009, we had only 37 builders who constructed more than 50 houses a year,” said Ted Wilson, principal with Dallas-based housing analyst Residential Strategies. “Today we are back up to 50 builders.
“A lot of them are startups,” Wilson said. “A bunch of the big builders had layoffs during the recession that pushed capable people to the sidelines.”
Some of those former large-volume-builder execs are now running their own companies.
These days it takes a lot fewer annual starts to be one of the largest builders in North Texas.
“Back in 2007 if you were going to be a top 10 builder here, you were doing at least 1,000 units a year,” Wilson said.
In 2012, only two homebuilding firms — D.R. Horton and First Texas Homes — started more than 1,000 houses in the D-FW area.
Horton was by far the largest, with almost 2,400 local starts last year. The Fort Worth-based builder had more than a 13 percent North Texas market share here in 2012.
Horton was also the largest builder in the nation last year, according to a new ranking by Builder magazine.
Read more at: Dallas News
Author: Steve Brown