Local builders welcome an upward trend in new home sales but also say they're still challenged to keep up with demand.
Hunt County resident Greyson Pruitt became a first-time homebuyer in 2022. After a few roadblocks with existing homes, he found better luck with a new build.
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WATCH HERE“It’s mine. No one else has been here. I can make it mine,” said Pruitt.
Several months into 2023, builders say it’s a promising trend. David Lehde is the Director of Government Affairs with the Dallas Builders Association. He said existing homeowners are staying put thanks to mortgage rate hikes, meaning there are fewer homes on the market.
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SIGN UP “So that naturally drives more of the demand to new home construction,” Lehde said.
He said members of the association are excited to see an increase in new home sales but building permit data indicates they can’t breathe easy just yet.
“I want to urge caution,” Lehde said. “It’s important that we still consider this as a bit of a delicate matter as we move forward.”
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For one, the past few years were plagued by supply chain issues. Pruitt knows that all too well.
“It was brutal,” Pruitt said. “It was brutal with the supply chain of ‘well we’re waiting on this we’re waiting on that.”
Lehde said the supply chain problems have eased a bit, but construction still lags demand.
“Our builders are able to secure more of those materials in a more predictable fashion which is very important,” he said. “But a lot of those materials are still up in cost.”
Realtor Brit Ewers is encouraged by the site of new builds. He’s sold several homes in the Las Colinas area of Irving. He said incentives are driving buyers to new homes as well.
“A lot of times builders can kind of package things in a way that makes it enticing with first-time buyers to go with new construction,” he said.
Like Lehde, he hopes new projects can keep up with demand, and sees the market as promising.
