Demand For New Housing In DFW Not Likely To Wane In New Year
FORT WORTH (CBSDFW.COM) - As 2021 comes to an end, construction and building experts in DFW are setting their sights on 2022 and the challenges that may remain when it comes to keeping up with the demand for new housing.
Phil Crone, Executive Officer of the Dallas Builders Association, said 2021 was riddled with lumber and labor shortages and he doesn't see that changing in the new year.
"I think unfortunately it looks like more of the same. It's going to be a market that is defined by shortages of labor and material and lots," said Crone. "Those are going to be a real shortage for consumers and builders in this market next year."
Crone said the industry prediction for 2022 is that vacant lots for new builds will remain hard to find while the demand for those projects will rise.
The lopsided trend is something experts believe could be problematic for North Texas in the long term too.
Crone believes it will hurt the main reason DFW is a desired destination.
"It's a problem for us in DFW because this market is defined by affordability and attainability and the ability to live in great homes with great communities and great school... the inability to deliver affordable and attainable housing is going to make this region unfortunately not as competitive if we didn't' have those issues," he said.
He said despite the challenges, he expects the North Texas region to get through it albeit prices will be higher.
"I'm optimistic that we are going to be able to weather it better than anyone else in the country," Crone said.
