Housing Market is Promising in Houston This Year, According to Trinity Custom Homes

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Trinity Custom Homes is issuing comment on promising developments in Houston’s housing market.

Trinity Custom Homes, which builds affordable properties for individuals and families, is issuing comment on a new article discussing promising growth in Houston’s housing market. After several challenging years, housing starts rose 32 percent during the first three months of 2013. Residents in the area continue to invest in the market, as they purchase new properties.

Metrostudy, a national housing data and consulting firm, notes that builders began to construct 6,442 houses in the first quarter alone. This was the first time in five years that quarterly starts climbed above 6,000. If growth continues at this rate, contractors will begin construction on as many as 28,000 homes this year, notes David Jarvis, who serves as the regional director of Metrostudy’s Houston division. While this is a significant improvement from 2012, it still does not rival 2006, when the market had nearly 50,000 starts.

The team at Trinity Custom Homes comments on this development. “While the last few years have proved challenging for the building industry as a whole, these statistics, as well as others that have come in from around the country, prove to be a positive sign. Clearly, individuals and families are getting back into home ownership, and we believe that the numbers will continue to steadily rise once again.”

The improvement in the housing market stems from a number of causes, including job growth, low resale inventory, and high affordability. Groups that study the economy estimate that the Houston area will see as many as 75,000 jobs in 2013 alone, thus putting the market in a prime position for additional housing growth. Jarvis explains that this number is down slightly from last year, but would still allow the figures to result in an above-average year as a whole.

Builders in the area explain that they would like to be more active, but are facing difficulties because there is currently a lack of available lots in what is typically considered a “supply-rich market.”

This issue has inhibited them from having the ability to ramp up their starts in an even more aggressive way than they already have. Jarvis explains that there are not enough resale homes, new homes, or even apartments to feed the demand right now. He notes that this is an unusual situation, and that prices for properties are rising as a result. He has seen a ten percent increase in new home prices over the past year.

The team at Trinity Custom Homes comments on this stating, “It’s certainly a positive problem when there is too much demand and not enough properties, but builders must have the ability to start projects for those who desire them.”

ABOUT:

Trinity Custom Homes is a building service that creates dream homes that are beautiful yet affordable. The group is licensed to build in Georgia, Alabama, North Carolina, and South Carolina. For the past decade, they have committed themselves to creating custom homes, while also providing exceptional customer care. Trinity Homes believes in creating energy-efficient properties that benefit the planet, while also saving homeowners a significant amount of money on monthly bills.

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Juliana Fellows
PR Management Inc.
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