Dallas-Fort Worth quarterly home starts fall nearly 50%

By STEVE BROWN / The Dallas Morning News

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Dallas-Fort Worth homebuilders slashed construction by almost 50 percent in the fourth quarter as the housing sector slowdown deepened.

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New-home sales during the period also fell by almost 30 percent, according to a report released Friday by Dallas housing analyst Residential Strategies.

"This is the lowest amount of under-construction inventory in over 10 years," Residential Strategies' Ted Wilson said in a statement.

With the slowdown in the fourth quarter, total home starts in the D-FW area last year dropped by more than 36 percent to 30,606 units.

"D-FW builders are well on their way to adjusting to the new levels of demand," Mr. Wilson said.

Builders sold about 38,000 single-family homes in 2007 - down 17.4 percent from 2006.

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