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Dallas Tx Home Prices

New Home Sales Soar In November Despite Higher Prices

New home sales jumped 26.6 percent compared to November of last year. The Census Bureau reported that new home sales for November posted at a seasonally adjusted annual rate of 733,000. This was well above expectations, and a 17.5 percent increase from the revised October numbers. Before you get too excited however, it's important to realize that the Census numbers are highly volatile and subject to significant revisions. The previous three months of new home sales were all revised lower, so expect some revisions to this November spike as well. The median price of a [...]

New Home Sales Jump In October, Average Prices Hit New High

New home sales continued to enjoy a hurricane-related boost in October. The Census Bureau reported new single-family home sales at a seasonally adjusted annual rate of 685,000, up 6.2 percent from revised September numbers and 18.7 percent higher than a year ago. The median price of a new home in October was $312,800 while the average price of a new home was $400,200. The talking heads will no doubt see this as a boon for the housing industry, and the numbers are certainly encouraging. That being said, I wouldn't read too much into the volatile [...]

Average New Home Size Continues To Shrink

The National Association of Home Builders reported that the median and average size of a new home in the U.S. continued to decline in the third quarter. Third quarter numbers on housing starts show that the median single-family new home size was 2,378 square feet.  The average square footage for new single-family homes declined to 2,518 square feet. According to the NAHB, this is apparently just part of the normal housing cycle. "The post-recession increase in single-family home size is consistent with the historical pattern coming out of recessions. Typical new home size falls prior to and during a [...]

More Denton County Homes For Sale As QE Unwind Begins

As the Federal Reserve begins their QE unwind, one interesting metric to watch will be the number of Denton County homes for sale. The number of Denton TX homes for sale was up 34 percent year-over-year in October. In Denton County inventory was roughly 18 percent higher through October. In Collin County the number of homes for sale was up a surprising 38 percent compared to last year. Reading between the lines, it appears the Goldilocks economy that the DFW area has enjoyed for the past 5 years is due for some consolidation. The inventory [...]

DFW Home Prices Pushing Limits Of Affordability

DFW home prices have been on a tear during the last 5 years. That begs the question of whether the recent price gains are sustainable. The answer to that inquiry generally boils down to who is selling what. In our hyper-financialized housing market it is not surprising when real estate practitioners or lenders suggest that we are not in a housing bubble. Whether you call it a housing bubble or not, there is no denying that the past decade has seen some dramatic shifts in the real estate market. Dallas/Fort Worth is certainly part of [...]

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 [...]

Student Loan Debt Delaying Home Purchases

First-time home buyers and millennials are having a pretty difficult time keeping pace in the current housing market, and student loan debt is a significant part of the problem. The National Association of Realtors and American Student Assistance study, Student Loan Debt and Housing Report for 2017, provides a number of interesting examples of how debt is keeping home purchase activity subdued. The study The amount of student loans in the United States now exceeds $1.45 trillion, and the growth shows no signs of slowing. One of the more interesting findings of the study is [...]

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 [...]

New Home Sales Fall 9 Percent In July

New home sales fell to a seasonally adjusted annual rate of 571,000 units in July. This was well below consensus estimates and roughly 9 percent lower than last years rate of 627,000 units according to Census Bureau numbers. The median price of a new home contracted in July was $313,700 and the average price of a new home in July was $371,200. Sharp price increases compared to last year help to explain the sharp decrease in new home sales activity in July. On a positive note, the three previous months of sales were revised higher. [...]

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