Don Allen 
Aberdeen Land Co.
The residential construction market in the greater Dallas-Fort Worth-Arlington area remains strong, with the entire metroplex continuing to see strong in-migration of people from other parts of the country who are looking to purchase homes. There is also strong demand from local buyers who want to purchase their first home, says Allen, the former president of the Greater Fort Worth Builders Association.
Construction costs have mostly stabilized, Allen says, noting that most supply chain disruptions, along with the accompanying material cost increases, have been alleviated. But the cost of new homes is significantly higher than it was in 2019, and this appears to be a new normal that won’t be reversed. “Higher mortgage rates have had a significant impact” on buyers as well, he says.
Overall, Dodge Data & Analytics expects the region’s 2023 volume of new project starts to tally roughly $37.5 billion, a decline of 8% from 2022 levels. Additionally, Dodge foresees an upward trend for 2024, with a construction spending forecast of $39.2 billion overall. 

ENR Subscribe

You must have JavaScript enabled to enjoy a limited number of articles over the next 30 days.
Top Design FirmsTop Design Firms
Design Firms To Face Continuing Workforce Woes
Top ContractorsTop Contractors
Stuggles Continue for Construction Industry, Government Projects Bright Spot
Top Specialty ContractorsTop Specialty Contractors
Growth and Struggles Continue for Regional Specialty Firms
Industry Jobs

Copyright ©2023. All Rights Reserved BNP Media.
Design, CMS, Hosting & Web Development :: ePublishing