Thanks to population growth, the demand for newly constructed homes in Texas and Florida is surging. With Texas adding 367,000 new residents and Florida adding 233,000 new residents in 2019, according to CoreLogic, it’s not surprising that mid-sized metros in these states are experiencing spikes in new home sales. Dallas and Houston had the largest number of new home sales in the country in 2019.
Just take a look the number in new home sales from October 2018 through September 2019, according to CoreLogic.
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– Dallas 32,000
– Houston 31,000
– Atlanta 21,000
– Phoenix 20,000
– Austin 17,500
– Orlando 15,800
– Tampa 12,000
– Charlotte 12,000
– San Antonio 11,000
– Washington DC 10,000
Also take a look at the 2019 growth percentages of new home sales in markets that boast affordability, high employment and warm weather:
– Port St. Lucie FL +30%
– Warner Robins GA +29.5%
– Ocala FL +28%
– The Villages FL +26%
– Sebastian FL +25.5%
– Deltona FL +25%
– Salem OR +24.5%
– Huntsville AL +24.5%
– Lakeland FL +23%
– Midland TX +22%
– Pensacola FL +21%
– Coeur d’Alene ID +20%
– Chattanooga TN +19%
– Greenville SC +19%
As you can see, many of these Sunbelt metros are attractive to retirees, among others, who are looking for locations that have lower housing and cost-of-living costs.
CoreLogic wrote, “With family incomes expected to rise and mortgage rates expected to remain low through 2020, household growth needs for additional home construction will continue. Metros in the South and West will likely continue to lead the nation in new home sales.
Thanks to CoreLogic for source data.
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