Homes under construction in the Park Place development in Frisco are likely to carry a higher price tag as the costs of lots, lumber and labor grows.

Jumps in new home development and construction costs have builders worried that their sales prices are outpacing buyer incomes.

Dallas-Fort Worth new home prices in the first quarter hit a record high of $244,113, according to Dallas-based housing analyst Residential Strategies Inc.

And with costs such as building lots, lumber and labor rising rapidly, the outlook is for more price increases in new homes throughout 2013.

Read the article