Despite the Phoenix housing market getting hammered by the recession in recent years, it was the No. 7 metro area last year in terms of new home construction activity.
The collective value of all private housing projects authorized in the Phoenix area last year was nearly $1.7 billion, the seventh-highest amount among the 366 largest metros in the U.S.
The Houston area led the way last year with $4.17 billion, according to the U.S. Census Bureau. That’s easily the highest total posted by any of the nation’s 366 metros.
Dallas holds second place with $3.87 billion of new privately owned housing units being authorized in 2010, followed by New York with $3.05 billion. All figures encompass central cities and their suburbs.
Rounding out the top five in residential construction valuation are Los Angeles at $2.38 billion and Washington at $2.10 billion.
The latest numbers for all 366 metros can be found in a database here.
The total value of all building permits issued in the 366 metros last year was $88.46 billion. Twenty metros topped $1 billion in residential construction valuation, and another 24 were between $500 million and $1 billion.
Original Article: Here
