Through the first 11 months of 2022, permits to build new homes are down 31% in Frisco, 37% in Celina, and 25% in McKinney compared to the same period in 2021. They’re down 28% in Princeton, 20% in Prosper, and 21% in Anna,
Sharply higher mortgage rates have made 2022 a lump-of-coal year for most homebuilders nationwide, and despite the relatively robust population and employment growth in North Texas, Santa won’t have as many new rooftops to land on here this year as he has in the recent past. In Celina, home building permits are down to 1,528 so far this year from 2,433 at this time last year. McKinney’s permits are down to 1,194 through the end of November from 1,587 permits year-to-date through Nov. 30, 2021.
There are exceptions to the slide in building permits in Dallas-Fort Worth’s northern suburbs. Denton, Melissa and Little Elm, for instance, look to end the year up on the housetops.