Want to know just how just how crazy the housing market is not just in DFW but throughout the entire state of Texas right now? Well, consider this: according to recent building permit analysis by Trulia, one in every 10 new homes being built in the U.S. is either in Dallas, Houston, or Austin.
Ready for more? There’s also this: in 2017 alone, these three major cities combined are on pace to build almost 130,000 new houses, which is enough to represent more than 10% of all new construction nationwide this year. And as you might expect, each of these Texas metros are all in the nation’s top five for permits pulled, with Phoenix and New York occupying the other two slots.
As noted by the Dallas News, Austin alone is on pace to add about 30,000 new homes, which is more than double its annual average from 1980 to 2016. Furthermore, both Dallas and Houston are both on pace to build close to 50,000 new homes each, and the pace of newly built homes being added to the market is still struggling to keep up with demand.