According to new research by Trulia
, Texas is leading America's homebuilding race
with Austin, Dallas and Houston collectively on track to build 130,000 new homes this year. That represents 10 percent of all U.S. building permits and nearly as many as 50 large American metro areas combined in 2017. While residential construction is growing in the south, several markets in the northeast of the country are expected to struggle to surpass 500 new homes this year.
As can be seen from the following infographic, the residential construction sector
is literally a hot property in Texas this year. Dallas and Houston are set to build 48,772 and 47,992 new homes respectively while New York follows with approximately 40,000. Another Texas metropolitan area, Austin, comes fourth overall and is predicted to build 29,872 homes this year. The primary factors impacting residential construction across different regions include strong job growth, increasing wages and rising home values.