Single-Family Permit Levels Rebound
Texas' single-family construction permits rose 1.1% month over month (MOM) to 12,619 issuances. All four major metros reported growing demand for permits except for Houston (4,007 units), falling 4.6%. Among the other three metros, both San Antonio (967 units) and Dallas (3,731 units) saw double-digit monthly percent gains at 31 and 24%, respectively. Austin rebounded from last month's fall, climbing 8.7% to 1,643 units.
Construction starts grew alongside construction permits according to data from Dodge Construction Network. Single-family construction starts increased 1.2% MOM to 11,556 units. Both Dallas and Houston led with over 3,250 houses breaking ground, surpassing the combined total of other metros outside the Big Four. Home project starts in Austin (1,605 starts) and San Antonio (694 starts) surpassed the typical 2:1 ratio.
The state's year-to-date total single-family starts value climbed to $25.4 billion, up from $22.8 billion in September. Starts values continued the previous month's trend of mirroring the values observed in 2019. Houston and Dallas remain the largest contributors, accounting for more than half of the state's construction activity values. Dallas' market share rose to 30.2%, with Houston trailing at 29.7%.