At On-Target! Marketing, we specialize in crafting tailored marketing strategies for the home building industry, and we're excited to share some fantastic news for Texas builders.
According to the 2024 Local Leaders List by Builder Online, Texas and Florida dominate the list of the largest U.S. new-home markets, with Texas home to four of the top five markets. Let's dive into what makes these markets thrive and why Texas builders deserve a round of applause.
The Powerhouses: Texas Markets Lead the Way
The 2024 Local Leaders List, compiled by Vincent Salandro, highlights the strength of housing markets buoyed by job growth, population influx, and relative affordability. Texas shines brightly with four markets in the top five:
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Dallas-Fort Worth-Arlington: Leading the charge with 42,840 closings, Dallas stands out not just for its volume but for its significant 11% job growth since January 2020. The metro area continues to attract corporate relocations, with 19 companies, including Landsea Homes and Fisher Investments, moving their headquarters here in 2023.
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Houston-The Woodlands-Sugar Land: Reporting 32,283 closings, Houston benefits from a big-city vibe with affordable housing and ample developable land. The market's affordability is highlighted by the fact that 41% of new home starts were priced between $300,000 and $399,000.
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Austin-Round Rock-Georgetown: Known as a "tech and millennial magnet," Austin saw an impressive 18.3% job growth since 2020. The area continues to attract major companies like Tesla, Amazon, and Oracle, although rising prices and reduced affordability pose challenges.
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San Antonio-New Braunfels: This market jumped into the top five, replacing Atlanta-Sandy Springs-Alpharetta. San Antonio's appeal lies in its affordability, with a significant portion of homes priced below $300,000.
What Drives Texas' Success?
According to Bryan Glasshagel, Zonda's senior vice principal, Texas markets benefit from several long-term tailwinds:
- Strong In-Migration: People are moving to Texas in droves, drawn by the state's economic opportunities and quality of life.
- Healthy Job Growth: Although slowing, job growth remains strongly positive, supporting housing demand.
- Favorable Business Climate: Texas continues to attract businesses thanks to its supportive regulatory environment and economic incentives.
Conclusion: Cheers to Texas Builders!
At On-Target! Marketing, we are thrilled to see Texas builders leading the way in the new-home market. Their success is a testament to the state's vibrant economy, strong job growth, and attractive living conditions. As specialists in marketing strategies for the home building industry, we look forward to continuing our support for builders in Texas and beyond, helping them navigate these dynamic markets and achieve even greater heights.
