Denton County Relocation

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October New Home Sales Rise On Easy Comparison

On the surface, the Census Bureau's 31.6% year-over-year increase in new home sales for October looks spectacular. To put it in context, however, new home sales are simply responding to the Federal Reserve's market interventions and that spectacular plunge in mortgage interest rates providing a very easy year-over-year comparison. On a monthly basis, new home sales dipped about one percent in October to a seasonally adjusted annual rate of 733,000 units. The longer term view shows new home sales still rising on a steady path out of the abyss. Along with the big drop in [...]

DFW Housing Market Will Hit The Wall Again

The DFW housing market is reflating on borrowed time, and it will soon hit the wall again. North Texas home sales jumped roughly 8 percent in October, while Dallas-Fort Worth home prices experienced some of the best gains in 2 years.  Pending sales for October were also higher, indicating we'll likely be able to finish out the year on a positive note for the housing market. This may seem like great news for housing market aficionados and the area's largest paper, but things will soon get interesting as the parlor trick of plunging mortgage rates [...]

A&M RECenter Phoning It In On Denton County Home Sales Estimates

The Real Estate Center at Texas A&M is apparently still phoning it in when it comes to DFW area home sales estimates. I was hoping the A&M RECenter had fixed their algorithm for late closings to produce better monthly sales estimates for the local real estate boards. Unfortunately, there is still a lot of room for improvement. Dallas' largest paper reported a rise of 5 percent for single-family home sales in August. Updated NTREIS data show the actual sales increase was about 1 percent. The Pending sales increase also looks to be about 1 percent [...]

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 10 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 [...]

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 [...]

DFW Unemployment Rate Drops To 3.3 Percent

The Texas unemployment rate hit a fresh low in the month of June, with the official headline number falling to 3.4 percent. According to the Texas Workforce Commission Texas added 45,000 jobs during the month and 315,600 jobs over the latest 12 month period. Dallas-Fort Worth posted an unemployment rate of 3.3 percent, down from 3.8 percent a year ago. The news from the TWC is that Texas continues to be a beneficiary of the longest economic expansion in U.S. history, and the DFW area has certainly been a part of that expansion. Denton County [...]

Denton County Employment Growth Still Solid, Why Are Home Sales Stagnating?

Denton County employment growth is still humming along. The Dallas-Fort Worth area continues to add jobs. Even with the job growth, home price gains in the DFW area continue to slow. This is confirmed in the recent numbers from Case-Shiller. Along with many professional PhD economists, the Case-Shiller committee seems to be puzzled that the housing market isn't firing on all cylinders given the recent plunge in mortgage interest rates. "Given the broader economic picture, housing should be doing better." Even Freddie Mac's deputy chief economist seems to be perplexed that the housing market isn't [...]

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 [...]

Denton County Home Sales See March Revival

Denton County home sales experienced a spring revival in March as plunging mortgage interest rates helped to offset continued affordability constraints. Home sales jumped 5 percent in the area while pending sales edged 6 percent higher for the month. The big decline in mortgage rates boosted home sales activity. Average home prices in Denton County also edged higher in March, rising almost 2 percent compared to March of last year to nearly $365,000. New home sales in the Denton area experienced the biggest boost from the recent interest rate swan dive. Sales of existing single-family [...]