In a central TX development the current estimates (3) to build a new custom home on a lot I own is 15-20% more than I can buy a similar 3-yr old home and lot. We're trying to decide whether to put our build on hold for 1 or more years.

It seems like demand and prices have to level out to be closer, but with people still flocking to Texas it is unclear when that will happen. Since lumber and wholesale steel have both dropped I see those as already balancing. However, concrete demand compounded by cement shortage, appliance shortages, labor / fuels prices, are still keeping costs high. Interest rates are compounding the issues but should help balance the new build and existing home values.

Anyone closer to the home construction market with insight into the market trends that can shed some light on market trends and expectations would be appreciated.

Email me and let's start a conversation.

markRmiller89@gmail.com

Bump - Anyone in the Central Tx custon home construction market able to share insights into forecasted pricing would be greatly appreciated.

Reach out to several builders in your area and kick up a conversation. The good ones will probably give you a half hour or more of their time to share their view of the world of current market trends they see, give a current cost range, tell you approximately how many projects they're working on, how long they've worked with the same key subcontractors (framing, drywall, carpentry, plumbing, electrical, roofing, foundation), etc.

Went through this a year ago. All the folks on our short list would have talked to us for days about almost anything it seems. Going through that actually helped us get more comfortable to move forward as we're building our home now.

Best of luck!