Tagged: Housing

There was a 0.6 percent dip in sales of existing homes in March from February, the National Association of Realtors reports, because the supply of homes for sale has tightened as the number of would-be buyers rises.

Its data suggest that sales ran at a 4.92 million annual rate last month, falling from a "downwardly revised" pace of 4.95 million the month before.

There was a 7 percent surge in housing starts last month, the Census Bureau and Department of Housing and Urban Development report.

As The Associated Press notes, the pace of construction — 1.04 million starts, at an annual rate — is the fastest in nearly five years and is another sign that the housing sector continues to recover from its 2007-08 crash.

This story is part of a two-part series about the construction industry in Texas. Find the first part here.

Homes in Texas are cheap — at least compared with much of the country. You can buy a brand new, five-bedroom, 3,000-square-foot house near Fort Worth for just $160,000.

But that affordability comes at a price — to workers, many of whom are in the country illegally and make $12 an hour or less, but also to business owners.