A new study has revealed the states where new houses are being built the most across the US with Utah taking the top spot with Idaho and Florida ranking second and third, respectively.
The data by portlandrealestate.com analyzed U.S. Census data and Statista to determine which states had the most new construction homes being developed per 1,000 residents.
The research found that Utah has the most new homes being built per 1,000 residents at 11.7. This is more than double the United States average of 5.23 new builds per 1,000 residents. The average value of a house in Utah is $554,955.
The state with the second highest number of new builds being built is Idaho, where there are 11.43 new homes being built per 1,000 residents. The average value of a typical family home in Idaho currently sits at $427,410.
Florida ranks third with 9.80 new construction homes being built per 1,000 residents. The average value of a house in Florida is $406,426 – up 22.4 percent from last year.
South Carolina and Colorado rank fourth and fifth, respectively. South Carolina has 9.76 new builds being built per 1,000 residents in the state whilst Colorado has a slightly lower rate of 9.73 new construction homes being built per 1,000 residents.
At the other end of the scale, Rhode Island has the fewest new builds being built per 1,000 residents at only 1.27 new builds.
Interestingly, when it comes to the states with the fewest new houses being built, most of the states that rank the lowest are based in the east, with the exception of Hawaii and Alaska.
Connecticut has the second lowest rate of new homes being built with 1.29 new builds per 1,000 people whilst Illinois ranks third lowest with 1.55 new builds per 1,000.
The state of New York has 2.02 new builds per 1,000, making it the state with the third lowest rate of development of new builds. West Virginia rounds out the bottom five with 2.07 new builds per 1,000 residents.
Commenting on the study, a spokesperson for portlandrealestate.com said: “In 2021, there were 6.9 million houses sold across the US with this number projected to rise to over seven million in 2023. With this in mind, this study offers a revealing insight into the states where the supply of new housing is increasing the fastest to meet the ever increasing demand and for any potential buyers, this research can serve as a useful guide as to where more property will be available in the coming years.”
