Home construction in the San Antonio market blows past Austin

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Today's newsletter is 547 words — a 2.5-minute read.

1. Dallas, Texas reduces turnaround time for building permits

The median time to obtain a commercial building permit in Dallas was 112 days in October, a significant reduction from the 300 median days required in 2021, according to a city memo.

These improvements follow several initiatives to streamline operations and reduce turnaround times. A significant step was the merger of Dallas's planning and permitting departments, followed by the rollout of a public-facing dashboard to track the city’s commercial permit activity.

Starting in June 2024, Dallas's Planning & Development Department began publishing public dashboards to track permitting metrics and make the process more transparent. The commercial dashboard shows that one permit was submitted and eight were issued last month.

2. Texas housing market oversupplied, real estate expert says

Texas’ housing market is now over-supplied with available inventory, according to an analysis from Nick Gerli, CEO of Reventure a real estate data analytics resource.

In a thread posted on social media, he noted Texas’ housing supply has reached its highest volume since 2017, with close to 116,000 active listings now compared to 98,000 available seven years ago.

His analysis determined Austin was the Texas city with the largest inventory surplus, at 42%. Dallas and San Antonio closely trailed, at 39% and 38%, respectively.

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3. Catch up quick

👴 9 most comfortable towns in Texas for seniors. (WorldAtlas)

🏙️ Gen Z adults are flocking to these cities. (BAM)

🏠 United Properties opens its first two apartment developments in Austin. (TRERC)

🤝 Fathom Holdings acquires My Home Group brokerage. (PRNewswire)

🌀 Texas gulf coast is likely to experience swells over the weekend from Hurricane Rafael. (HPM)

🗳️ Fun read: 🪧 Dallas residents can recycle their election signs at three city-owned locations through the end of the month. (WFAA)

4. Home construction in the San Antonio market blows past Austin

According to housing data firm Zonda which visually confirms new home starts, construction in San Antonio's housing market has surged past Austin.

In Q3, San Antonio started 17,751 homes annually, compared to 16,663 homes started in the Austin area over the same period, marking a 33% surge in construction for the Alamo City versus 11% in the Texas capital. LINK

5. The number of renter households is growing three times faster than that of homeowner households

The number of renter households in the U.S. has surged to a record 45.6 million, outpacing homeowner growth with a 2.7% increase year over year, according to a new Redfin report.

This rate of growth is three times faster than the 0.9% increase in homeowner households, which now totals 86.9 million.

The 2.7% increase represents 1.18 million additional renter households and marks the second-fastest yearly pace of growth since 2015.

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