Market Monitor: Six Top Metros For Single-Family Construction
Primarily using data and insight from Hanley Wood’s Metrostudy and Meyers Research, the BUILDER staff takes a deep dive into the state of housing in six of the nation’s top metropolitan areas for new-home construction: Dallas-Fort Worth, Denver, Miami, Phoenix, Seattle, and Washington, D.C., which includes its surrounding Maryland and Virginia suburbs.
Each of these active housing markets appear within the top 20 on our 2019 Local Leaders list, which highlights the 50 largest new-home markets in the U.S., ranked by closings. The following reports offer some insight as to how each of these markets will fare in 2020. Each one is chock-full of data, from the number of quarterly starts and closings in third quarter 2019 to median new-home prices and available lots. One thing that is consistent across all six of these areas is job growth, which is a positive economic sign. However, it comes as no surprise that housing affordability is still a major pain point for some of the markets in this group. Read on to see how regional directors in these areas think their markets will fare in 2020.