Real Estate

/Tag: Real Estate

The 9 Percent DFW Home Sales Gain That Didn’t Happen

The Dallas Morning News continues to allow real estate editor Steve Brown some serious latitude with the truth when it comes to DFW home sales. In the latest article on May home sales Mr. Brown would apparently have you believe that "11,302 preowned single-family homes" traded hands in May. Unfortunately that didn't happen! You would think that Dallas' largest newspaper would have the resources to fact-check the horse manure Mr. Brown is printing in the digital edition of the paper, but apparently that is asking too much. The Dallas Morning News real estate desk is [...]

Denton County Homes For Rent: Less Is More

Denton County renters continued to get squeezed in May with prices for single-family rentals edging up slightly compared to the same time last year. As home price inflation continues to push higher, the average rent per square foot rose a bit faster. In Denton County the average price for a home leased during the month of May registered at roughly $1921. This was essentially unchanged from May of last year, but the price per square foot rose from $0.93 to $0.96. Within the city of Denton where average rents are lower ($1617), the price per [...]

Denton TX Mortgages – Lock Your Rate Or Not?

Should you lock your Denton TX mortgage interest rate at the time of application? If you are buying a home, it's a difficult question to answer. As early as last week Treasury bears were screaming at the rooftops that yields (and by default mortgage rates) were going to shoot higher, as evidenced by the 10-year Treasury crossing a supposed line in the sand above 3%. What a difference a few days makes! This morning the yield on the benchmark 10-Year Treasury dipped to 2.82 percent, retracing 29 basis points from the recent "line in the [...]

Denton ISD Housing Activity Poised For Future Growth

The Denton Independent School District board of trustees received their quarterly growth report at the last school board meeting. The Q1 report from Templeton Demographics highlights current district growth patterns as well as future lot development within Denton ISD's 180 square mile boundary. There are also some interesting statistics on Denton home prices and Denton homes for sale. Some of the more interesting highlights from the demographic report include: Student Enrollment within Denton ISD stands at 29,420 Unemployment rate of 3.2% within Denton ISD, compared to 3.7% for the DFW MSA Over 32,000 future new [...]

April Existing Home Sales Soften 2.5%

The National Association of Realtors reported a 2.5 percent slide in existing home sales for April. That translates to a 1.4 percent decline compared to last year. According to NAR the median price of an existing home sold in April was $257,900, a rise  of 5.3 percent compared to last year. The average price of an existing home was $297,300, an increase of 3.3 percent compared to last year. NAR chief economist, Lawrence Yun, blamed low inventory for the sluggish April sales... “The root cause of the underperforming sales activity in much of the country [...]

New Home Sales Rise Less Than Expected In April

The Census Bureau reported new home sales for April that were a little lighter than expected. April new home sales posted at a seasonally adjusted annual rate of 662,000. The previous three months were revised lower, with March sales seeing a significant downward revision. The average price of a new home contracted in April was $407,300, a sharp increase from the same time a year ago. The median price of a new home sold (contract signing) was roughly flat at $312,400. That dramatically higher average contract price in April offers a good clue as to [...]

Dallas TX Employment Reaches New Heights In April

Employment growth in the Dallas area (Dallas-Fort Worth-Arlingon MSA) pushed to new heights in April with a new record for jobs in the region. Dallas has added jobs each month so far this year as the unemployment rate sits near 3.4 percent. Texas added a total of 39,600 jobs in April according to seasonally adjusted data from the Texas Workforce Commission. The oil boom in the Permian Basin continued to boost employment in the Odessa Midland area with Midland posting a state-low unemployment rate of just 2.1 percent. Non-adjusted data show that the Dallas area [...]

Denton County Home Sales Flat In April Amid Higher Mortgage Rates

Denton County home sales were relatively flat in April compared to the same month in 2017. Preliminary sales figures show a 1 percent decline in closings within Denton County compared to a two percent sales gain in the larger DFW area. Average home prices in Denton County were up 7.5 percent compared to last year, in line with the record high prices seen in recent months. Pending sales, a more forward-looking indicator of future closings also point to some stagnant sales activity ahead. Pending sales in Denton County show to be up 2.7 percent while [...]

Denton County Rental Market Remains Hot In 2018

The Denton County rental market is still running hot in 2018. April closings of rentals in Denton County show a 20 percent increase so far compared to the same time last year. Year-to-date figures for the DFW housing market also show strong activity in the rental market. Your typical rental home in Denton County cost a little over $1900 per month in April. That translates to a cost per square foot of $94, in line with the average price per square foot for the DFW area. While total rent prices may be higher, the price per [...]

Meritage: “Strong Demand For Entry Level Homes” Drives New Orders Increase

Meritage Homes reported first quarter sales yesterday, and the publicly traded home builder admitted what many, including myself, have been saying. New home prices have eclipsed the threshold of what most Americans can afford (or are willing) to pay. Meritage saw a 2 percent increase in closed sales for the quarter on average new home prices that were up by just 1 percent. New orders grew 10 percent compared to the same quarter last year on average sales prices that were 2 percent lower. This is the dilemma now facing most new home builders with [...]