Denton County Real Estate

/Denton County Real Estate

Denton TX Home Prices Hit New Record, DFW Real Estate Closes Out Strong Summer

Denton Texas hit a new record in August, with average home prices pushing above $284,000 for the month. The average price of a single-family home in Denton TX pushed above $290,000 for the month, eclipsing the previous record set in June. The plunge in mortgage interest rates back to near record lows kept the summer sales momentum going for the local real estate market. Denton County saw home sales rise about 11 percent compared to August of last year, while pending sales look to post a slight gain as well. Flat pricing in Denton County [...]

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, [...]

Existing Home Sales Snap 16 Month Losing Streak, Rise 0.6%

The National Association of Realtors reported existing home sales for July at a seasonally adjusted annual rate of 5.42 million. That's 2.5 percent better than last month according to NAR's revised figures, and up 0.6 percent from July of last year. All it took was a complete capitulation by the Federal Reserve on policy normalization and a dramatic 75 basis point drop in mortgage rates. The median price of a home in July was $280,800, up 4.3% from last year. The average price of an existing home sold in July was $317,100, a rise of [...]

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 [...]

International Real Estate Activity In U.S. Cools Dramatically In Latest Survey

Foreign buyers are cooling on U.S. residential real estate. NAR's Profile of International Transactions in U.S. Residential Real Estate 2019 shows foreign purchases declined 36 percent from the previous 12 month period to $77.9 billion. That translates to 183,100 home purchases, or roughly 3 percent of existing home sales in the U.S. Chinese purchases of U.S. real estate declined 56 percent to $13.4 billion in dollar volume. NAR's latest survey shows that the escalating trade war and stagnating global economy are definitely taking a toll on foreign investment in residential real estate in the United [...]

Denton County Home Sales Resume Slide In June Amid Affordability Crunch

Denton County home sales resumed their slide in June amid the continuing affordability crunch. Despite the large drop in mortgage interest rates experienced this year, home sales in Denton County dropped 6 percent compared to the same time last year. This was in line with the 6 percent slide seen throughout the DFW area. The average price of a home in Denton County in June posted at $364,887, a decline of 1 percent from June of 2018. Median home prices in Denton County were unchanged from June of last year, posting at $325,000. The bump [...]

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 [...]

Denton County Home Sales Climb In May, City of Denton Sees All-Time High For Prices

Denton County home sales rose 3 percent compared to the same month last year, driven by a the precipitous drop in mortgage rates which are now back below a 4-handle. The increase in home sales this spring has offset the weak start to the year during the first quarter. The average price of a Denton County home was roughly $368,525 in May, up 4 percent from prices last year. The inventory of homes for sale in Denton County rose 25 percent, hitting 3.4 months of supply. New home sales continued to fare better than the [...]