New construction on residential properties is booming in Dallas-Fort Worth, but there is one thing preventing growth from getting insane.
Although homebuilders sold 7,035 homes so far this year, 22% more than last year, the lack of construction workers hinders further growth, according to an article by Candace Carlisle for Dallas Business Journal.
The nicer weather has been credited as the main reason for the increase, according to the article.
Last year's persistent storms hindered the builders.
From the article:
"We had forecasted 30,000 home starts for the year and we may hit that number as soon as next quarter with the growth in the market," he told me. "I think there's a capacity issue right now, which isn't a reflection of demand."
If Dallas-Fort Worth had enough construction labor, the region's demand for homes could push home starts to 35,000 per year, he added.
Stalled immigration has been credited not only as the loss in labor for construction companies, but also as a reason for rising home prices.