Denton County New Homes

/Denton County New Homes

Village Builders Waterbrook Opening Late Fall In Argyle TX

Village Builders has pushed back their opening for the Argyle community of Waterbook to late Fall 2019 according to a company representative I spoke with earlier today. One of model homes is currently under construction, but it will apparently be a couple of months before the community is ready to entertain contracts for new home construction. Waterbook won't see its first permanent residents until 2020. Parent company Lennar Homes has experienced some delays getting things off the ground after acquiring the community in the CalAtlantic acquisition. Prices in Waterbrook are still slated to range from [...]

Diminishing Returns? July New Home Sales Up 4.3%

The Census Bureau reported sales of new single-family homes at a seasonally adjusted annual rate of 635,000 in July. That's up 4.3 percent from July of last year, but down 12.8 percent below the sharply revised June numbers. The median price of a new home contracted in July was $312,800 while the average price of a new home contracted was $388,000, both lower than prices last year. The median new home price for July was $14,700 (about 4.5%) less than July of last year. The supply of new homes stood at 6.4 months in July, [...]

Plunging Mortgage Rates Lift Denton County Home Sales In July

Plunging mortgage interest rates lifted Denton County home sales to a near record month in July. Home sales in Denton County posted a 14 percent year-over-year jump on record high average prices. The average price of a home sold in Denton County last month was a record $374,130. The surge in sales during July helped to offset the sales decline in June, and year-to-date sales are now slightly in positive territory. If you read Dallas' largest newspaper, the July rebound in the housing market was all about the strong economy and fabulous jobs market. In [...]

New Home Sales Rise 4.5 Percent In June On Lower Rates

The Census Bureau reported new home sales for June at a seasonally adjusted annual rate of 646,000 units. This was up 7 percent from revised May figures and 4.5 percent higher than a year ago. The previous three months were revised lower. The median price of a new home contracted in June was $310,400, almost unchanged from last year. The average price of a new home in June was $368,600, a decrease of $1500 from June 2018. Months of supply stood at 6.3 in June, up from 6.0 months of supply last year. Translated on [...]

Census: New Home Sales Decline 3.7 Percent In May Despite Lower Mortgage Rates

According to the Census Bureau new home sales for May posted at a seasonally adjusted annual rate of 626,000 units. This was 7.8 percent below revised April numbers and 3.7 percent below the rate seen last year. Despite plunging mortgage interest rates this year, new home sales are not exactly inspiring any headlines. The median price of a new home contracted in May was $308,000 while the average price of a new home stood at $377,200. The inventory of new homes for sale stood at 6.4 months of supply, up from 5.6 months a year [...]

Single-Family Housing Permits & Starts Still Stagnating

The Census Bureau reported permits and starts numbers for May which were less than impressive. While permits were up from revised April figures, they were still lower than levels seen last year. Single-family permits (one unit structures) were down 3.3 percent from the same time a year ago. The sluggish numbers for housing permits and starts in May is a bit surprising to some of the experts considering the recent plunge in mortgage interest rates. Unfortunately there is more to the demand for new homes than just ultra low interest rates. Housing starts in May [...]

New Home Sales Jump 7 Percent In April But Momentum Is Fading

The Census Bureau reported new home sales in April which rose 7 percent compared to the same time a year ago. Sales (contract signings) for April posted at a seasonally adjusted annual rate of 673,000 units. This was close to expectations, but interestingly the April figure represented a rather large 7 percent drop from revised March numbers. The sales numbers for the previous three months were revised higher. The median price of a new home rose in April to $342,200, while the average price of a new home contracted in April rose to $393700. This [...]

Home Builder Confidence Not Confirmed By Housing Starts & Permits Data

This week the National Association of Home Builders reported improved confidence and business conditions among new home builders. With the big drop in mortgage interest rates, builders have been enjoying solid sales so far in 2019. NAHB chairman, Greg Ugalde, even said as much... “Builders are busy catching up after a wet winter and many characterize sales as solid, driven by improved demand and ongoing low overall supply...However, affordability challenges persist and remain a big impediment to stronger sales.” With mortgage rates just above 4 percent, the year-over-year interest rate comparisons are very favorable for [...]

Denton County Home Sales Continue Spring Rebound In April

Denton County home sales enjoyed a continued spring rebound in April as low mortgage rates fueled strong demand for new homes and improved affordability for prospective buyers. Home sales in Denton County jumped 7 percent from the same time last year, better than the 3 percent gain seen in the DFW area during April. The average price of a Denton County home declined just slightly in April to roughly $358,000. Closings of new construction rose 13 percent while sales of used homes improved 6 percent. Home sales in the City of Denton rose about 2 [...]

New Home Sales Improve On Lower Rates, Big Drop In Prices

According to the Census Bureau new home sales for March posted at a seasonally adjusted annual rate of 692,000, a 3 percent increase from the same time last year and 4.5 percent better than February sales numbers. Apparently the big drop in mortgage interest rates continued to provide some lift to the new home market in March. This confirms what we were seeing in the DFW market last month as new home sales outperformed the resale market. The supply of new homes stood at 5.0 months in March, up from 4.5 months a year ago. [...]