"The Allure of New Construction Homes in Texas' 2023 Real Estate Market"

There is no evidence to suggest that new build sales are slowing in Texas in 2023. In fact, new construction homes remain in high demand due to the limited inventory of pre-owned homes available for sale. According to the Texas A&M Real Estate Center, the number of building permits issued for new single-family homes in Texas increased by 11% in 2022 compared to the previous year, suggesting that builders are continuing to ramp up production to meet demand. Additionally, according to data from the National Association of Home Builders, builder confidence in the Texas market remains strong as of early 2023.

While the rising cost of building materials and labor may have contributed to higher prices for new construction homes, buyers are still willing to pay a premium for new homes due to the benefits they offer in terms of energy efficiency, modern features, and low maintenance costs. As a result, it appears that new build sales remain robust in the Texas real estate market in 2023.

Sources:

• Texas A&M Real Estate Center: https://www.recenter.tamu.edu/

• National Association of Home Builders: https://www.nahb.org/

Amanda Allen, Realtor, MRP - RE/MAX Landmark

www.AmandaAllenHomes.com - 903-603-0648

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