Facing slower traffic in sales offices with buyers facing higher mortgage rates, North Texas homebuilders are hitting the brakes at a pace not seen since the Great Recession.
Dallas-Fort Worth homebuilders took out 2,564 single-family building permits in October, a 33.4% decline from October 2021, according to data from the Texas Real Estate Research Center at Texas A&M University and the U.S. Census Bureau.
October was the sixth consecutive month of year-over-year declines in the number of single-family permits and marked the steepest drop since 2009.
