Dallas TX Employment Grows In September

Dallas TX employment continues to march higher. September brought an increase of 15,600 jobs compared to revised August figures. The Dallas-Fort Worth-Arlington MSA region added 93,600 jobs during the past year according to numbers from the Texas Workforce Commission. The official (goal-seeked) unemployment rate for the Dallas area stood at 3.4 percent in September, below the state average of 4 percent. The Dallas employment sector continues to be tight according to many local economists. Pia Orrenius, a senior economist with the Dallas Fed was "encouraged by the data". Even though Hurricane Harvey caused a drop [...]

New Home Sales Cool 1.2% In August

The Census Bureau reported that new home sales fell 1.2% year-over-year in August. As we saw last week with the existing home sales decline, Hurricane Harvey put a damper on real estate transactions in the southern states. It is quite likely that September home sales will also be affected by the fallout from Harvey. The median price of a new home contracted in August was $300,200 during the month of August. The average price of a new home contracted last month was $368,100. Both figures represent price increases from a year ago. Median new home [...]

Dallas Employment Declines In Typical Summer Turnover

The Dallas employment fell by 12,800 jobs compared to the previous month in the typical summer employment turnover. Many educations jobs roll off the books each summer only to be added back in as school begins in August. The trend of healthy job gains for the DFW metropolitan statistical area continues to be intact with no signs of slowing. The Texas economy added 19,600 jobs throughout the state in July, expanding for the 13th consecutive month. According to numbers from the Texas Workforce Commission Texas has added 293,400 jobs over the past year. For the [...]

New Home Sales Tumbled In April, Unchanged Year-Over-Year

So much for the Trump bump euphoria. New home sales tumbled in April, posting at a seasonally adjusted annual rate of 569,000. This was 73,000 below the revised March figure and far below analysts expectations. Then again analysts haven't been paying attention to the real economy, so this latest data is not a surprise to anyone who doesn't have their head in the sand. Year-over-year, new home sales for April are back to unchanged according to the latest Census figures. And just like that, the "pent up demand" that pundits have been talking about has [...]

Why Home Builders Can’t Meet Housing Demand

America's home builders are having a difficult time meeting housing demand, or so they say. While access to credit is cited as a factor that is holding back builders, that's only a partial cause of builders' reluctance to put their money where their optimism index mouth is. As NAHB chief economist, Robert Dietz, explains it builders are finding it more difficult and expensive to develop land. Home builders should be thanking the The Federal Reserve for this warped, manipulated landscape, but most builders will likely avoid the discussion. The first rule of fight club is [...]

By | 2017-01-12T21:38:57+00:00 January 11th, 2017|Development, New Home Sales, Real Estate, Spin Cycle|1 Comment

New Home Sales Soften In October

New home sales for October came in at a seasonally adjusted annual rate of 563,000. This was below forecasts, and the previous three months of new home sales were revised downward by 34,000 units. Even with the decline, new home sales were still 17.8 percent higher than October of last year. The Census report for new residential sales in October showed a median new home price of $304,500 with the average price at $354,900. Median prices were higher than a year ago, but the average price was $12,000 less than last year. It appears the [...]

Mortgage Rates Rip To Highest Level Since July 2015

Katy Texas mortgage rates rose to their highest levels since July 2015 as we ended the week. That new home you may have been looking to purchase just became more expensive. Unless you already had a mortgage rate locked in, higher rates likely means higher home payments or diminished expectations. As Friday came to a close, mortgage brokers were discussing the wreckage of higher yields and looking at a new interest rate landscape, at least in the short term. Mortgage News Daily explained the closing of the week in the mortgage market... "The most prevalent [...]

By | 2016-11-22T16:01:26+00:00 November 19th, 2016|Housing Policy, In the Press, Markets, Mortgage Rates, Real Estate|0 Comments

Peak Auto? October Motor Vehicle Sales Decline

Preliminary October home sales numbers for Houston indicate volume is still holding steady even if prices are taking it on the chin. U.S. motor vehicle sales appear to have already topped out with October sales declines for all of the major U.S. automakers. Car sales in the Houston area are now down 22.6 percent year-over-year. Looking at a chart of motor vehicle loans and the miraculous "recovery" in the automobile industry during the last 8 years, one might get the impression that U.S. automobile sales look a lot like U.S. home sales in the sense [...]

By | 2016-11-03T16:53:47+00:00 November 3rd, 2016|Economy, Energy & Utilities, Real Estate, Transportation|1 Comment

Debt, Deficits & Housing – The Smoke & Mirrors “Recovery”

Many among the status quo have defended the last 8 years as a productive "recovery" from the abyss of financial armageddon unleashed by our criminal banking sector. The efficacy of the recovery depends on the person responding to the question. For the vast majority of the U.S. population, there has been no recovery, but instead a steady decline. If you have been paying attention to the early release of season 5 of 'House of Cards', speaking of the email data dump exposing our corrupt political machine for all to see, the reasons behind the phony [...]

Census: New Home Sales Decline 6.1% YoY In February

The Census Bureau reported that New Residential Sales In February 2016 declined by 6.1 percent compared to the same month last year. Unlike some cheerleader economists, the weakness in new home sales does not surprise me in the slightest. I would also point out that contrary to the opinion some pompous housing "experts" this was not a "decent" report. It was actually a wake-up call for the housing pundits who continue provide cover for failed monetary policy and the government's refusal to reform the financial system. The sad truth is that the U.S. real estate [...]

By | 2016-09-29T13:57:08+00:00 March 23rd, 2016|Economy, Housing Policy, In the Press, Real Estate, Video|0 Comments