Real Estate

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ATTOM Misses Big On Single Family Rentals For Dallas, Houston

I'm always curious when sell-side media types tout the glorious returns to be had when it comes to investing in single-family rentals. As if it weren't bad enough that the Federal Reserve has eviscerated housing market fundamentals, there is apparently never enough of a good thing when it comes to hyping up potential real estate riches in our hyper-financialized economy. That brings me to a gloriously entertaining piece from one Andrea Riquier at Marketwatch. The article is "Fancy being a landlord? Here are 10 metros offering double-digit rental returns." And what a story it is! Since [...]

Denton TX Home Prices Take A Breather

Denton TX home prices have leveled off during the last few months as the rampant home price inflation seen throughout the DFW area softened the last few months. Typical seasonal factors are at play as well as some general cooling of DFW's overheated housing market. The average price for a new Denton TX home stood at $295,533 in September, down from the peak of $340, 123 seen in January this year. Prices for resale homes in Denton TX peaked in June this year with the average price hitting $274, 070 before cooling to $240,607. The average [...]

Dallas Home Prices Challenge Builders

Dallas home prices are expensive, and builders are finally getting the message. That's the news from the most recent data on home starts in the DFW area, which reportedly surged in the 3rd quarter. Builders reportedly started 8,853 single-family homes in the DFW metroplex. For the 12 months ending in September there were apparently 32,234 permits recorded. This was the highest total in a decade. More interestingly, builders' starts for houses under $500,000 rose by 14.5% during the past year. Builders are finally waking up to the fact that the Dallas Fort Worth housing market [...]

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 Tx Home Prices Distorted By Fed Liquidity

Dallas Tx home prices continued to pusher higher this summer, but there is more to the story that you are not being told. Global central banks continue to levitate markets higher in a frenzied attempt to delay price discovery and push inflation higher.  A recent report shows $1.96 trillion in asset purchases by central banks in 2017. Since the collapse of Lehman Brothers nearly a decade ago, central bank balance sheets have swelled to over $15 trillion. Fed chair Janet Yellen continues to bark about a 2 percent inflation target that remains elusive, even while the [...]

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 Rise 9.1 Percent In June

The Census Bureau estimated new home sales for June at a seasonally adjusted annual rate of 610,000. This was close to expectations, but the previous three months were revised lower. Median price of a new home contracted in June was estimated at $310,800, roughly $10,800 lower than June of last year. The average price of a new home in June was $379,500. This was $15,200 higher than a year ago. With prices now at or above the previous cycle peak, new home builders will have to be creative to maintain sales volume growth. A favorable [...]

New Home Sales Rebound In May

The Census Bureau reported a rebound for new home sales in May. New residential home sales posted at a seasonally adjusted annual rate of 610,000. This was 2.9 percent higher than the revised April numbers and 8.9 percent higher than a year ago. The median price of a new home contracted in May was $345,800 while the average new home price in May came in at $406,400. Just like we saw with existing home sales this week, median home prices hit a new all-time high. New home sales volume, while up from last month, is [...]

NAR: Existing Home Sales Slip 2.3% In April

Existing home sales for April slipped 2.3 percent according to The National Association of Realtors. This comes on the back of the sharp correction in new home sales reported yesterday by the Census Bureau. Existing home sales for April posted at a seasonally adjusted annual rate of 5.57 million units. While down from the previous month, this was roughly 1.6 percent higher than last year. Lawrence Yun, NAR's chief economist, pegged the sales softness on a lack of affordable homes...  "Homes in the lower- and mid-market price range are hard to find in most markets, [...]

By | 2017-08-19T10:32:21+00:00 May 24th, 2017|Real Estate, Texas Home Prices, Texas Real Estate|0 Comments

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 [...]