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DFW housing production – while the mix of units has changed, home demand still exceeds our pipeline…

  • ​Over the long-term, DFW has produced about 45,000 new single-family and multi-family housing units annually.  Single-family homes have represented 70-80 percent of that new stock.
  • Total housing unit production fell dramatically during the last downturn.  Despite negative job growth in 2008 and 2009, however, we continued to build homes into 2011, albeit at a much slower pace. 
  • After that downturn, home production ramped-up to meet the region’s renewed job growth of more than 100,000 annually.  At this time, the unit mix also continued its shift toward a greater share of apartments, similar to 2008 and 2009.  Currently, we are running near a 50/50 split between single-family and multi-family.
  • Although the annual shares vary, since 1995, DFW has typically added a housing unit for every 1.4 jobs created.
  • DFW home production has been lagging in this cycle with one home (single-family and multi-family) being produced for every 2 to 3 jobs.  As of 2017, that ratio finally moved to 1.7 and is forecast to be 1.5 next year. 
  • This suggests that total home “demand” will slightly exceed our development pipeline for the near-term. 

Source: Axiometrics; Moody's Analytics; CoStar; Bureau of Labor Statistics; JLL Research

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