Denton County Real Estate

Look For Dallas Fort Worth Employment Engine To Cool

The Dallas Fort Worth employment engine could be cooling off after consecutive years of impressive growth. The latest numbers from the Texas Workforce Commission were still solid for July, reflective of the typical summer turnover, but there are headwinds now blowing against DFW job sector growth. Dallas Fed economists have miraculously figured out that previous employment growth projections for Texas were probably overstated. They have since dialed back their job growth forecast to 2.7%, down from the previous forecast of 3.0% released just last month. While it may catch many local economists off guard, the [...]

RECenter A&M Economists Still Wasting Texas Realtors’ Money

RECenter at A&M economists and data junkies are still wasting the dues of Texas Realtors that pay a good chunk of their salaries. It seems the Real Estate Center at Texas A&M economists are phase-locked in a myopic pursuit to somehow rationalize or justify the status quo situation with Texas housing. "Intellectual Phase-Locking is a condition that results when dogmatic 'scientific' assumptions inhibit further inquiry." Rupert Sheldrake Last year I wrote about some of the interesting details on the Real Estate Center at Texas A&M and their funding. I have also clued readers in on the [...]

Denton Home Sales Soar In June As DFW Sales Swoon

DFW home sales fell in June with the diminishing supply of affordable homes. Home prices are still rising in many DFW submarkets, but sales are cooling in the more expensive submarkets. NTREIS stats reflect a sales decline of roughly 3-4 percent in June in the Dallas-Fort Worth area compared to the same month last year. The same held true in Denton County where sales also fell 3-4% compared to last year. The city of Denton bucked the trend in June with a 30 percent sales gain in June. How? In a word, it was all [...]

Zero-Down Mortgages Return With New Names

Surprise! Zero-down mortgages are back! Just when you thought we had learned the lessons of the subprime mortgage meltdown nearly a decade ago, along come new twists on an old formula. The recipe is pretty simple, and the inevitable outcomes are fairly predictable, yet that won't deter some people from making irrational decisions when it comes to the fear of missing out (FOMO). The latest strategies to put cash-strapped buyers into homes they probably can't afford are similar to crowdfunding. HomeFundMe is an example of one such program where buyers can solicit donations for a [...]

All Roads Still Point Toward Yield Curve Inversion

With the Federal Reserve's balance sheet normalization process set to kick into a higher gear next month, all roads still point toward a yield curve inversion. While govt officials and the Fed's pie-in-the-sky economists continue to was about a robust economy with unemployment levels hovering near cycle lows, there are some widening cracks appearing in the global QE Ponzi scheme. Yesterday the Fed found some "widespread and critical deficiencies" in Deutsche Bank's capital planning controls. You don't say! The stock of Germany's largest bank, a toxic time bomb of opaque derivatives, continues to plumb news [...]

New Home Sales Increase To 689,000 Annual Rate In May

The Census Bureau reported new home sales for May at a seasonally adjusted annual rate of 689,000 units. This was above forecasts, but previous months were revised lower. According to Census figures the median price of a new single-family home sold in May was $313,000, more than $10,600 LESS than last year's median price. The average price of a new home contracted in May was $368,500, or $9,900 less than May of last year. Putting the May numbers from Census into context with local new home sales, the numbers look plausible. May was a pretty [...]

Autopsy Report For Affordable Housing In Dallas Fort Worth

An autopsy report for affordable homes in Dallas-Fort Worth reveals the steady evaporation of affordable housing inventory in the DFW area. Recent data show that housing prices in the U.S. are currently at their least affordable levels since the financial crisis. The latest numbers on existing home sales showed that the median price of a home hit a new all-time high. So how did this all happen? Was it an accident? Is it due to our smashingly great economy? Let's find out. As investors and speculators have gobbled up lower-priced homes across the country to [...]

The 9 Percent DFW Home Sales Gain That Didn’t Happen

The Dallas Morning News continues to allow real estate editor Steve Brown some serious latitude with the truth when it comes to DFW home sales. In the latest article on May home sales Mr. Brown would apparently have you believe that "11,302 preowned single-family homes" traded hands in May. Unfortunately that didn't happen! You would think that Dallas' largest newspaper would have the resources to fact-check the rubbish Mr. Brown is printing in the digital edition of the paper, but apparently that is asking too much. The Dallas Morning News real estate desk is quoting [...]

Denton County Home Sales Edge Higher In May

Denton County home sales edged up slightly during May with closed sales rising roughly 3 percent compared to a year ago. Sales of new construction were a bit softer than resales during May due to inventory mixes. The city of Denton saw home sales rise by almost 11 percent in May as lower average price points continued to boost activity. With the Federal Reserve poised to hike rates again this week, it's all about interest rates and affordability. The greater DFW area saw relatively flat home sales volume in May. Although new home builders were [...]

Denton County Homes For Rent: Less Is More

Denton County renters continued to get squeezed in May with prices for single-family rentals edging up slightly compared to the same time last year. As home price inflation continues to push higher, the average rent per square foot rose a bit faster. In Denton County the average price for a home leased during the month of May registered at roughly $1921. This was essentially unchanged from May of last year, but the price per square foot rose from $0.93 to $0.96. Within the city of Denton where average rents are lower ($1617), the price per [...]

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