Good local housing data article on the D Magazine Real Points blog by Ted Wilson of Residential Strategies. Several times a year, we go to presentations by Ted and his crew to review the current state of housing in the DFW area.
Short summary – new home starts in Q2 2011 is down from Q2 2010, but up from Q1 2011. The year over year drop is likely due to Q2 last year being the last quarter of the (misguided, in my opinion) home buyer tax credit.
But Ted is encouraged overall and sees the same thing that we have been seeing lately – sales and traffic has definitely been picking up.
So, what’s the new dynamic this year? Most builders are on plan, reporting steady traffic and sales for the spring and early summer months. With no artificial stimulus out there in the market today, the general expectation as we head into the rest of 2011 is that we’ll see more of a balance, with year-over-year numbers gradually improving and annual rates starting to pick back up a bit.
We’ve also seen a dramatic increase in the number of calls we’ve been fielding. In addition to our finished Lakemont house, we’ve currently got two major remodels going on and three custom jobs about to start any day. On top of those, we’ve got three or four more that are in plan stage and about ready to go!
It’s going to be a busy rest of the year for us and we look forward to it!