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7 Tips for North Texas Home Sellers as the Housing Bubble Pops

By |2022-06-12T14:03:09+00:00June 12th, 2022|Denton County Home Prices, Denton County Real Estate, Denton County Relocation, DFW Home Prices, DFW Homes For Sale, DFW Real Estate, DFW Relocation, Housing Market, Housing Policy, Markets, Monetary Policy|

Here are 7 tips for North Texas home sellers as the DFW housing bubble pops. The bond markets made another seismic shift last week with big implications for the housing market and home sellers. Mortgage interest rates are now close to six percent, and inventory is climbing quickly. Home sellers need to be aware of the huge shift in the housing market as the Fed normalizes policy. Tip # 1 – Acknowledge the bubble for what it is There are countless “experts” in the mortgage and real estate space who completely missed the tectonic shift [...]

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Denton County Housing Bubble Begins To Pop

By |2022-06-12T10:52:33+00:00June 10th, 2022|Denton County Home Prices, Denton County Homes For Rent, Denton County Homes For Sale, Denton County Property Taxes, Denton County Real Estate, Denton County Relocation, DFW Home Prices, DFW Homes For Sale, DFW Real Estate, DFW Relocation, Housing Market, Housing Policy, Markets, Monetary Policy, Mortgage Rates, New Home Sales, Real Estate, Spin Cycle|

Denton County's pandemic-induced housing bubble is finally beginning to pop. The summer selling season has been met with rampant price chopping. Sellers are hitting the market and finding some big air pockets. My what a difference a few months can make! Home inventory continues to rise off the lows earlier this year. That has caught a number of home sellers and agents completely off guard. It shouldn't have. As I have been detailing for months, this shift and the coming correction were baked in the cake. What's amazing is that so many "experts" continue to [...]

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New Home Sales Plunge with Affordability Concerns

By |2022-05-24T21:24:39+00:00May 24th, 2022|Denton County Home Prices, Denton County Homes For Sale, Denton County New Homes, Denton County Real Estate, Denton County Relocation, DFW Homes For Sale, DFW New Homes, DFW Real Estate, DFW Relocation, Housing Market, Markets, Monetary Policy, Mortgage Rates, New Home Sales|

New home sales took a serious nosedive in April. The Census Bureau reported new home sales for April at a seasonally adjusted annual rate (SAAR) of 591,000. That was way below consensus estimates and a 16.6 percent slide from the March figure.  New home sales were down 26.9 percent from April of last year. Previous months' estimates were also revised lower. The following two charts help explain why the consensus has been oblivious to what's really happening. Something was bound to give, and it finally did. In layman's terms, new homes are no longer affordable [...]

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North Texas Housing Market Looks Like A Bubble

By |2022-05-21T11:50:44+00:00May 10th, 2022|Denton County Home Prices, Denton County Homes For Sale, Denton County Real Estate, Denton County Relocation, Denton Tx Home Prices, Denton TX Homes For Sale, Denton TX Real Estate, DFW Home Prices, DFW Homes For Sale, DFW Real Estate, DFW Relocation, Economy, Housing Market, Markets, Monetary Policy, Mortgage Rates|

The North Texas housing market is looking like a bubble waiting to burst. Home prices continued to melt up in April. Median and average home prices hit new all-time highs across the Dallas-Fort Worth area. The median home price in Denton County hit a new record high of $480,000, an increase of 22.9 percent from last year. Average prices hit $577,607. That was up 25.1 percent year-over-year. The melt-up in prices is pretty astounding considering mortgage interest rates are now solidly above 5 percent. Monthly payments for a prospective home buyer in North Texas have [...]

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Fed Hikes Rates 50 Basis Points, Punts Balance Sheet Reduction to June 1st

By |2022-05-05T14:02:49+00:00May 5th, 2022|Economy, Housing Market, Monetary Policy, Mortgage Rates|

The Federal Reserve increased the Federal Funds rate to a range of 0.75-1.00 percent. The 50 basis-point rate hike was largely expected. Powell shot down any talk of a 75 basis-point hike. Jerome Powell also announced that balance sheet reduction would begin June 1st. The FOMC statement. "The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. With appropriate firming in the stance of monetary policy, the Committee expects inflation to return to its 2 percent objective and the labor market to remain strong. In support [...]

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New Home Sales Market Finally Cooling Off

By |2022-04-27T11:43:04+00:00April 27th, 2022|Denton County Home Prices, Denton County Real Estate, Denton County Relocation, Denton Tx New Homes, Denton TX Real Estate, DFW Home Prices, DFW New Homes, DFW Real Estate, DFW Relocation, Mortgage Rates, New Home Sales|

The market for new home sales is finally cooling off. The Census Bureau reported new home sales for March at 735,000 units (SAAR). This was 8.6% below the revised February estimate. It was also a 12.6% drop from March of last year. The median sales price of a new home contracted in March 2022 was $436,700. The average sales price was $523,900. Those were both new record highs. The unadjusted inventory of new homes stood at 5.7 months, up from 5.3 in February. Sky high prices and rising interest rates are now acting to cool [...]

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Denton County Home Buyers Front-Run Rate Hikes Sending Prices Soaring

By |2022-04-14T14:54:28+00:00April 12th, 2022|Denton County Home Prices, Denton County Homes For Rent, Denton County Homes For Sale, Denton County Real Estate, Denton County Relocation, Denton Tx Home Prices, Denton TX Homes For Sale, Denton TX Real Estate, DFW Home Prices, DFW Homes For Lease, DFW Homes For Sale, DFW Real Estate, DFW Relocation, Housing Market, Housing Policy, Monetary Policy, Mortgage Rates|

Fear of missing out (FOMO) was the theme last month in Denton County Texas as home buyers behaved like irrational humans often do. Buyers jumped into the local housing market front-running the coming Federal Reserve rate hikes. Home prices shattered records as a result. The median price of home rose 25.3% year-over-year to a record $464,000. Average prices rose 23.6% to a record high $554,098. Closed sales were roughly flat compared to last year. That's a testament to how frenzied the activity was given the current backdrop of spiraling interest rates. Pending sales (contracts) fell 10 [...]

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Mortgage Rates Breach 5% Mark After Brainard Speech

By |2022-04-06T11:47:53+00:00April 5th, 2022|Denton Tx Home Prices, Denton TX Homes For Sale, Denton TX Real Estate, DFW Home Prices, DFW Homes For Sale, DFW Real Estate, Housing Market, Housing Policy, In the Press, Markets, Monetary Policy, Mortgage Rates|

U.S. mortgage rates breached the critical 5 percent level today. Prepared remarks from FOMC dove Lael Brainard spooked the markets into a tailspin sending yields on the 10-year Treasury above 2.56 percent. Average mortgage interest rates quoted from Mortgage News Daily spiked to 5.02 percent. This is the first time rates have been this high since 2018. You may remember that the fourth quarter of 2018 also saw the stock market and real estate markets come unglued before the Fed stepped in to intervene. Unfortunately for real estate bulls, this time is different. Instead of [...]

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New Home Sales Begin Slide As Interest Rates Rise

By |2022-03-23T18:47:44+00:00March 23rd, 2022|Denton County New Homes, Denton County Real Estate, Denton County Relocation, Denton Tx New Homes, Denton TX Real Estate, DFW New Homes, DFW Real Estate, Economy, Mortgage Rates, Real Estate|

New home sales are beginning to slide as rising rates clamp down on the housing market euphoria. The Census Bureau reported February new home sales at a seasonally adjusted annual rate (SAAR) of 772,000 units. That's a 2 percent slide from January and down 6.2 percent from last year. The unadjusted February sales estimate shows 65,000 new homes sold. That translates to a 7 percent slide year-over-year. The median price of a new home came in at $400,600. The average price posted at $511,000, a new record high for the series. It's interesting to note [...]

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Media Narrative on Housing Shortage is Comically Absurd

By |2022-03-22T01:23:54+00:00March 21st, 2022|Denton County Real Estate, DFW Real Estate, Education, Housing Policy, In the Press, Monetary Policy, Politics, Real Estate, Spin Cycle|

The current media narrative on the U.S. housing shortage is comically absurd misdirection. Numerous experts in the industry continue to float the same tired narratives and misdirection while media mouthpieces nod in agreement. It's truly sad to watch. News segments offering up explanations of our housing affordability crisis look more like industry infomercials. According the Wall Street arm of the housing industry renting is the new American dream. Wall Street predators are just filling the gap, providing much-needed housing in a time of need. Just a few days ago our local CBS affiliate ran this [...]

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