Dallas home builders have put the skids on teardown home building primarily due to the recession and slow down in the housing market.
During the first quarter of 2006, 272 homes were started in close-in neighborhoods compared to 50 during the first quarter of 2009.
There’s more than a ten-month supply of vacant new homes on the market in sections of the Park Cities, North Dallas, East Dallas and other areas where builders have been knocking down old homes for new ones.
“Some builders have been forced to sell at less than cost and some have rented out new houses”, Ted Wilson, an analyst for Dallas-based Residential Strategies Inc. said.
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This entry was posted on Tuesday, July 7th, 2009 at 3:37 pm and is filed under Dallas Fort Worth, Homebuilder. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.