Article source: ConstructConnect
When it comes to new residential construction in the U.S., building permit figures in units are generally accepted as a good proxy (or fill-in) for housing starts.
For the 36 most populous cities in the U.S., the state of Texas claimed three of the five leaders for highest level of starts in full year 2021. Dallas-Ft Worth (76,909 units) was number one; Houston (69,053 units) was number two; and Austin (50,772 units) took fifth spot.
Rounding out the top five were the huge metropolis of New York (3rd at 58,035 units) and the buzz-worthy city of Phoenix (4th at 51,923 units). The status of Phoenix as an economic ‘hot’ zone has been reaffirmed by Intel’s decision to spend $20 billion expanding its existing presence there to accommodate two new computer chipmaking plants.
Next in line after the Top 5 was Atlanta with 39,296 units of residential groundbreakings.
North of the border, Toronto narrowly beat Atlanta for housing starts last year at 41,898 units. The other two Canadian cities that would have placed high among U.S. cities for residential groundbreakings in 2021 were Montreal (32,343 units) and Vancouver (26,013 units).
As for year-over-year percentage changes in permits or starts among U.S. cities in full year 2021, Philadelphia was the standout, +132.9%. But the more than doubling of Philly’s starts moved the city only into seventh position for level, at 37,449 units.
