Dallas Fed: Texas housing starts and existing home sales improve
The Texas economy continues to expand, with housing starts and existing-home sales increasing month-over-month, according to the Federal Reserve Bank of Dallas monthly outlook survey.
Housing starts jumped 15% in December after falling 3.3% in November. Additionally, housing starts are up 50.9% year-over-year.
Single-family housing construction permits fell 4.3% from November to December. However, existing-home sales rose 1.2%, the outlook noted.
Home inventories also declined to 4.7 months of available supply, seasonally adjusted, in December, signaling a tight market and rising prices.
Click on the chart to view housing starts.