Odessa Building Boom to Hold in 2014
ODESSA – Northern Odessa will see 900 single-family residences constructed over the next three years for an estimated $10 million.
In 2013, Odessa and Midland saw 1,333 single-family permits issued, according to economist Karr Ingham. Odessa homes sold for an average price of $178,752 in 2013, and the average time on the market was 51 days, according to data from the Permian Board of Realtors.
“I think that lots are coming online and the homes will be built to help catch up,” said Randy Brinlee, Odessa’s director of planning. Most announced development plans lie to the northern and eastern parts of Odessa.
Several economists who study the Odessa and Midland area have predicted growth rates to cool from the extremes of the past few years, giving infrastructure a chance to catch up and possibly relieve housing costs.
Odessa Building Boom to Hold in 2014 – Learn more, contact: Donna Edwards 432-934-4439