HOUSTON (RealtyNewsReport.com) – Area new home construction and sales continued to grow in first quarter 2014, according to Metrostudy.
Compared with the same period last year, home starts were up 9 percent, and sales were up 15 percent.
Construction started on 7,146 new homes during the first quarter — the fastest pace since the third quarter of last year and the most for a first quarter since 2007.
On an annualized basis, starts stand at 28,930, 14 percent above last year.
Area builders closed on 6,553 new homes in the first quarter, bringing the annualized total to 26,463 — a 2.8 percent increase over the previous quarter and a 15 percent gain from a year ago, the fastest pace since 2009.
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