Texas Markets Are Leading the Nation in New Home Construction
Zonda's comprehensive new report provides data-driven insights into the performance and market share of top home builders across 50+ major U.S. metro areas, empowering industry players with valuable intelligence.
NEWPORT BEACH, Calif., July 30, 2024 /PRNewswire-PRWeb/ -- The Dallas metropolitan area has emerged as the nation's largest and fastest-growing market for new home construction, according to Zonda's highly anticipated Local Leaders list.
This ranking underscores the robust housing demand and population growth in the Lone Star State, which claims an impressive four out of the top five spots on Zonda's comprehensive annual rankings of 50 markets across the country. It also highlights which builders are coming out on top in each market.
"The Local Leaders list shows key movements within markets but also among specific companies. The two largest builders - D.R. Horton and Lennar - are market makers and the new metro areas that they have pursued, such as Bremerton, WA, Winchester VA, and Jefferson, GA provide insights into current growth markets," says Tim Sullivan, chief advisory officer.
The Local Leaders list provides invaluable insights into the health of the homebuilding industry, across the country, detailing the total number of closings and ranking the top 10 builders in each market based on their 2023 closings and market share.
The Top 5 markets are:
- Dallas-Forth Worth-Arlington, TX
- Houston-The Woodlands-Sugar Land, TX
- Phoenix-Mesa-Chandler, AZ
- Austin-Round Rock-Georgetown, TX
- San Antonio-New Braunfels, TX
This data-driven analysis serves as a reliable barometer for identifying the hottest real estate markets and the builders driving their growth. While Texas dominates the top spots, markets such as Phoenix, AZ also demonstrated impressive performance.
Sullivan expects to see shifts in the future as affordability challenges persist and buyers look towards the Midwest for more affordable options.
Markets such as Tulsa, Richmond, Birmingham, and Kansas City are poised for growth driven by healthy local economies and increasing migration levels. The full report offers a granular view into market dynamics nationwide, empowering industry stakeholders with intelligence to inform strategic decision-making.
The full list of 50 metros and their top builders can be found here. Zonda advisors are available to speak to each market as well as the national trends.
Visit ZondaHome.com or follow us on LinkedIn.
About
Zonda provides data-driven housing market solutions to the homebuilding industry. From builders to building product manufacturers, mortgage clients, and multifamily executives, we work hand-in-hand with our customers to streamline access to housing data to empower smarter decisions. As a leading brand in residential construction, our mission is to advance the home building industry, because we believe better homes mean better lives and stronger communities. Together, we are building the future of housing.
Media Contact
Valerie Sheets, Zonda, 949-294-9557, [email protected], https://zondahome.com
SOURCE Zonda
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