October 22, 2016

10 Markets Where Homebuilding Is Booming

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10 Markets Where Homebuilding Is Booming

Housing starts jumped 15.7 percent in July to its highest level since November, the Commerce Department reported this week. But where is new-home construction rising the most?

Homebuilding on the Rebound

Many housing markets are seeing an increase in homebuilding activity. For example, Chicago posted an 87 percent increase in single-family housing starts quarter-over-quarter during the second quarter, and starts are up 30 percent year-over-year, according to housing data from Metrostudy.

According to Metrostudy, the following markets are seeing some of the largest increases in homebuilding activity year-over-year in the second quarter:

  • Reno, Nev.
  • Rio Grande Valley, Texas
  • Southern California
  • Atlanta
  • Chicago
  • Nashville
  • St. George/Mesquite, Utah
  • Sarasota/Bradenton, Fla.
  • Charlotte, N.C.
  • Naples/Fort Myers, Fla.

Metrostudy is projecting homebuilding to rise 18 percent next year for single-family housing starts, compared to a 6 percent increase expected for this year.

Source: “Top 10 markets for New Residential Construction,” BUILDER online (Aug. 19, 2014)