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TEXAS HAS INCREASE IN SINGLE-FAMILY HOUSING STARTS

 TEXAS HAS INCREASE IN SINGLE-FAMILY HOUSING STARTS
 COLLEGE STATION, Texas, Aug. 19 /PRNewswire/ -- While national


news headlines bemoan the lack of new single-family housing starts, the latest numbers show Texas had a 28.5 percent gain for the 12 months ended in June.
 "Texas residential construction activity continues to outpace the nation," said Ted C. Jones, chief economist at Texas A&M University's Real Estate Center. "We were the first to hit bottom. We are now leading the recovery."
 Nationally, starts were up 23.7 percent for June but only 13.9 percent for the 12-month period.
 Of the 28 Texas metropolitan areas reporting data to the center, 10 had added at least 50 percent more residential permits during the year. Only three areas reported a decline.
 The booming cities and area surrounding Fort Hood recorded the biggest 12-month jump at 249.4 percent.
 "The 4,638 single-family building permits issued in June by major Texas markets was 33.9 percent greater than June 1991," Jones said. "This brought the 12-month total to 45,070 -- an increase of more than 28 percent."
 Jones notes that building permits for multifamily housing is showing renewed life as well. While Texas multifamily permits were up 19.3 percent in June, they were down 18.6 percent nationwide. For the 12 months ended in June, Texas multifamily permits were up 29.5 percent but down nationally by 18.1 percent.
 -0- 8/19/92
 /CONTACT: Ted Jones, 409-845-2037, or Gretchen Krueger, 409-845-3464, both of Texas A&M University/ CO: Texas A&M University ST: Texas IN: SU:


BP-EH -- LA032 -- 1492 08/19/92 17:11 EDT
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Date:Aug 19, 1992
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