50 largest housing markets for single-family new construction, according to Zonda

On Tuesday, Zonda published a report showcasing the 50 largest new-home markets. 

“Texas and Florida have a commanding presence on this year’s list, accounting for one-third of the top 50 new-home markets”.

Indeed, 13 of the 50 largest markets are in Florida alone, and 4 are in Texas—including Dallas (No. 1) and Houston (No. 2).

“Big trends for all the markets in [Texas] continue to be strong in-migration, healthy job growth—slowing but strongly positive—and a strong business climate”.  “These are the long-term tailwinds for Texas. It will probably be one of the top, if not the top, population and household growth state in the nation for decades to come.”

Homebuilders in Florida, like Texas, have benefited greatly from steady population growth. 

Heading forward, over the short-term, Zonda chief economist Ali Wolf says they’re keeping an eye on housing markets across Texas and Florida, noting that “there is currently a downshift in the housing markets in Texas and Florida in 2024 as more inventories come online and consumers grapple with higher prices.” 

Given the current housing affordability picture, Wolf thinks Midwest homebuilders could stand to benefit.

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