New Home Sales Climb In March With Lower Average Prices

By | 2018-04-24T18:39:48+00:00 April 24th, 2018|Collin County Home Prices, Dallas Tx Home Prices, Denton County Home Prices, Denton County New Homes, Denton Tx Home Prices, Denton Tx New Homes, DFW Home Prices, DFW New Homes, Existing Home Sales, Housing Market, Mortgage Rates, New Home Sales|

The Census Bureau reported that new home sales in the United States climbed to a seasonally adjusted annual rate (SAAR) of 694,000 in March. This represents a sales increase of almost 9 percent compared to last year. Sales for January and February were also revised higher. The median price of a home sold in March was $337,200 while the average price of a new home contracted in March was $369,900 according to Census estimates. While the median price climbed in March, the average price of a new home in the United States declined by $14,500 [...]

Dallas Morning News Circulation Decline Might Reflect Quality Of Content

By | 2018-04-18T15:49:01+00:00 April 18th, 2018|DFW Real Estate, Education, Housing Market, In the Press, Real Estate, Spin Cycle, Texas Real Estate|

The circulation decline at the Dallas Morning News during the last few years might have something to do with the quality of the content. This is just the opinion of your humble blogger. According to Statista, the circulation of the DMN dropped in each of last three years for both daily and Sunday papers. Circulation of Dallas' largest paper still edges out the Houston Chronicle, but that's not saying much. While the number of readers of both papers is significantly higher, it appears fewer people are paying for the old print newspaper. Looking a the [...]

Denton County Home Prices Hit New High In March As Sales Cool

By | 2018-04-12T15:16:55+00:00 April 12th, 2018|Collin County Home Prices, Dallas Tx Home Prices, Denton County Home Prices, Denton County New Homes, Denton County Property Taxes, Denton County Real Estate, Denton Tx Home Prices, Denton TX Homes For Sale, Denton Tx New Homes, DFW Home Prices, DFW Homes For Sale, DFW New Homes, DFW Real Estate, Economy, Housing Market, Mortgage Rates|

Denton County home prices hit a new record high in March with the average price of a Denton County home posting at just over $360,000. Median home prices for Denton County also hit a new all-time high rising to almost $320,000. That was a jump of 8 percent from March of last year. While home prices throughout the DFW area were hitting new highs at the end of the first quarter, actual closed sales of homes declined 5 percent in March. Denton County saw a similar 5 percent decline in home closings for the month. [...]

Markets Wobbling As Fed Normalization Hits $30 Billion Per Month In Q2

By | 2018-04-06T23:20:16+00:00 April 6th, 2018|DFW Home Prices, DFW Real Estate, Economy, Education, Markets, Mortgage Rates, Politics, Real Estate, Spin Cycle, Texas Employment, Texas Home Prices, Texas Real Estate|

The markets were wobbling again this week, but regardless, the Fed normalization will hit $30 billion per month in April. I must confess that I get a good laugh when I hear market apologists and real estate pundits talk up the magnificent economy and housing market we are blessed with in Texas. Yes, things are pretty good here in the Lone Star State, and the DFW housing market still seems to have legs. Unfortunately the real economy is not nearly as robust as many talking heads and sell-side practitioners would have you believe. The March employment [...]

Lennar Homes Posts Solid First Quarter After CalAtlantic Acquisition

By | 2018-04-06T13:30:34+00:00 April 6th, 2018|Collin County Home Prices, Dallas Tx Home Prices, Denton County Home Prices, Denton County Real Estate, Denton Tx Home Prices, Denton Tx New Homes, DFW Home Prices, DFW New Homes, DFW Real Estate, Housing Market, Mortgage Rates, New Home Sales, Real Estate|

Lennar Homes delivered 6765 homes during the first quarter of 2018, the first fiscal quarter capturing a portion of the CalAtlantic acquisition. New orders at Lennar jumped 30% with a dollar value of $3.4 billion. After absorbing CalAtlantic Homes, the combined company now boasts a backlog of 17,566 homes with a combined value of $7.7 billion. Contributing to that huge backlog were 7190 homes from CalAtlantic worth an estimated $3.6 billion. Lennar is now America's largest home builder looking at the total dollar value of homes. We'll have to wait for 2nd quarter results fully [...]

Denton, Collin County See Declining Home Affordability

By | 2018-04-02T13:32:36+00:00 April 1st, 2018|Collin County Home Prices, Dallas Tx Home Prices, Denton County Home Prices, Denton County Real Estate, Denton Tx Home Prices, DFW Home Prices, DFW Homes For Sale, DFW Real Estate, Mortgage Rates|

Denton and Collin County continue to suffer from declining home affordability. A recent Q1 2018 report from Attom Data Solutions shows that several North Texas housing markets saw worsening affordability rankings compared to last year. Grayson and Ellis Counties were near the top of the list of the most unaffordable counties in the U.S. to buy a home based local home prices and weekly average wages. Grayson and Ellis rank high on the list due to the relatively low average wages and the recent bout of home price inflation that has far exceeded wage gains. [...]

U.S. New Home Sales Flat In February

By | 2018-03-23T18:29:05+00:00 March 23rd, 2018|Collin County Home Prices, Dallas Tx Home Prices, Denton County Home Prices, Denton County Real Estate, Denton Tx New Homes, DFW Home Prices, DFW Real Estate, Economy, Markets, Mortgage Rates, New Home Sales, Real Estate, Texas Home Prices|

The Census Bureau reported new home sales for February at a seasonally adjusted annual rate of 618,000. This was slightly below expectations, but January was revised significantly higher so month over month the change was negligible. Compared to last year new home sales in February were up less than one percent. The median price for a new home contracted (signing of contract, not actually closing) was $326,800 while the average price of a new home last month posted at $376,700. The supply of new homes stood at 5.9 months in February, near the top of [...]

Fed Orders China Bank To Tighten Anti-Money Laundering Protections

By | 2018-03-14T13:49:53+00:00 March 14th, 2018|DFW Home Prices, DFW Real Estate, Economy, Education, Housing Market, Housing Policy, In the Press, Mortgages, Real Estate, Regulation, Spin Cycle, Texas Real Estate|

The Federal Reserve on Tuesday faulted the Industrial and Commercial Bank of China Ltd for its weak anti-money laundering protections, ordering ICBC to tighten its screening of illicit money. Real estate money laundering from China into global property markets has been an ongoing theme for several years, and by all accounts the volumes of money being cleaned are still substantial. Last month the Canadian Imperial Bank of Commerce (CIBC) introduced new guidelines to replace its "Foreign Income Program". CIBC decided it should obtain income verification for foreign buyers gobbling up overpriced Canadian homes. Many of [...]

Denton County TX Home Sales Flat In February As Prices Rise

By | 2018-03-12T15:11:59+00:00 March 12th, 2018|Collin County Home Prices, Dallas Tx Home Prices, Denton County Home Prices, Denton County New Homes, Denton County Real Estate, Denton Tx Home Prices, Denton TX Homes For Sale, DFW Home Prices, DFW Homes For Sale, DFW New Homes, DFW Real Estate, Economy, Housing Market, Mortgage Rates|

Denton County home sales followed the trend in the DFW area during February, roughly unchanged from the same sales volume a year ago. The average price of a Denton  County home rose almost 5 percent year-over-year to just over $341,000. The median price of a Denton County home rose 7.5% to $304,990. The average price of a new Denton County home rose 9.6 % in February to $432,625. Resale price gains were more muted in February, rising only 4.0 percent compared to last year. Pending home sales in both Denton County and the greater DFW [...]

Dallas TX Employment Engine Sheds 59,000 Jobs In January Turnover

By | 2018-03-10T13:59:46+00:00 March 10th, 2018|Dallas Tx Employment, DFW Real Estate, Economy, Education, Spin Cycle|

The Dallas TX employment engine was misfiring as we headed into 2018. Recently revised figures from the Texas Workforce Commission show the Dallas-Fort Worth-Arlington MSA shedding 59,000 jobs in January. While it is typical for the January numbers to decline after the holiday turnover, the 59,000 jobs lost in January represents the highest seasonal turnover loss in several years. Employment levels were already declining with the December numbers, so this is a development that could be worth watching. We'll know more in a few weeks when we get the February employment data. What is particularly [...]