Dallas-Fort Worth new home starts rise in the third quarter, new report says
A rise in mortgage rates didn't seem to impact Dallas-Fort Worth new home starts in the third quarter, says Dallas-based Residential Strategies.
Area builders started construction on 5,786 new homes in the quarter, a 26.3 percent increase from the same quarter a year ago and the ninth straight quarter of year-over-year start activity, Residential Strategies said.
"Traffic and sales patterns during the third quarter were more seasonal than the previous year, but buyers were also adjusting to the environment of higher mortgage rates and house prices," said Ted Wilson, principal with Residential Strategies, in a news release.
Builders also started the quarter with large order backlogs, he said.
New home closings were also up, the consulting firm said. Dallas-Fort Worth builders closed the sale of 5,019 homes in the third quarter, 610 more units than in the third quarter of 2012.
_ Sandra Baker