New Home Construction’s Weak Market: Houston Leads the Nation

In Houston, Houston is leading the nation in residential construction, one of the weakest sectors in the economy.

Houston led the nation in 2010 with $4.17 billion in new residential projects, as stated by the U.S. Census Bureau. Dallas was second with $3.87 billion and New York was third with $3 billion.

New home sales, however, are off sharply and the nation is headed for one of its worst years ever. The Commerce Department reported sales of new homes fell nearly one percent in July to a seasonally adjusted rate of 298,000 homes.

Journalist Andrew Schneider of Houston Public Radio KUHF 88.7 FM interviewed RealtyNewsReport Editor Ralph Bivins about the market. To review Schneider’s report please click