Denton Tx Home Prices

/Denton Tx Home Prices

Denton County Home Sales Fall Out Of The Gate In 2019

Denton County home sales remained in their downward trend as we started 2019. NTREIS figures show that sales of Denton County homes fell 13 percent from the same time last year. Pending sales, a more forward looking indicator, did show a slight improvement, though not enough to pull the index into positive territory. Pending home sales in the Denton County area were down 6 percent compared to January 2018. The recent plunge in mortgage rates back to 1-year lows has helped to cushion the fall in an otherwise stagnating housing market. DFW home sales fell [...]

Caveman Powell Looking To Levitate Stock, Housing Bubbles

Yesterday the Federal Reserve yelped like a whipped puppy as Jerome Powell turned into the latest iteration of his market-dependent Bernanke/Yellen/Greenspan predecessors. If you remember, Mr. Powell was here in the DFW area back in November playing up the fabulous state of the U.S economy and the Fed's wonderful policies. At the time expectations were that the Fed would be raising the Federal Funds rate four more times this year with a balance sheet reduction schedule that was supposedly on "autopilot" to the tune of $50 billion per month rolling off. Flash forward one quarter [...]

Buc-ee’s Suit Against Denton Central Appraisal One Of Many In Broken Property Tax System

The new Denton Buc-ee's is already testing the waters of the two-tiered property tax system in Texas. Buc-ee's representatives already convinced the DCAD appraisal review board to chop over $850,000 off the initial appraisal last year, but apparently Buc-ee's feels the taxed value of the new Denton store is still too high, thus the suit in Denton County District court. This is just the tip of the iceberg when it comes to the efforts of business and industry as they buy justice at the local CAD. County records show 170 active cases against the Denton [...]

Hunter Ranch Cole Ranch Development Presented To Denton City Council

The Denton City Council received a detailed presentation from Hillwood and Stratford Land representatives during Tuesday work session. The proposed master-planned community of Hunter Ranch and Cole Ranch would encompass roughly 6000 acres and bring 15,000 new homes to the City of Denton, boosting Denton's housing stock by nearly 50 percent if the project were to be approved. A central question at the Denton City Council meeting was whether or not a special financing district or MMD (Municipal Management District) is the best path for the city to partner with developers Hillwood Communities and Stratford [...]

Denton TX Mortgage Rates Lowest In 9 Months

The benchmark 30-year mortgage interest rate dipped to 4.45 percent in the latest Freddie Mac weekly survey. That's the lowest level for mortgage interest rates that Denton Texas home buyers have seen in since last March. Not surprisingly, mortgage purchase applications have picked up slightly to start 2019. That's good news because purchase applications were trending lower for much of the fourth quarter of 2018 It remains to be seen whether the dip in interest rates will be enough to spark area home sales into the green. While mortgage rates are the lowest we've seen [...]

Denton County Home Sales Continued Sliding In December

Denton County home sales continued their slide in December as the Dallas-Fort Worth real estate market saw a 5th consecutive month of year-over-year declining sales activity. Denton County experienced an 11 percent decline in closed home sales along with a corresponding 11 percent decline in pending home sales activity. The drop in forward-looking contract activity suggests that a spring housing rebound may be a tough proposition. Home prices were still rising in many DFW submarkets in December, including Denton Texas where the average price of a home rose 11 percent to $274,012. Looking at a [...]

U.S. Existing Home Sales Down Seven Percent In November

The National Association of Realtors reported existing home sales for November at a seasonally adjusted annual rate (SAAR) of 5.32 million. This was up slightly from October but still down seven percent compared to the same time last year. The spike in mortgage interest rates was still lingering over the real estate market in November. The median price of an existing home sold in November was $257,700 in November, a rise of 4.2 percent year-over-year and the 81st consecutive month of year-over-year home price increases. The average price of an existing home sold in November [...]

Denton County Home Prices Drop As DFW Sees Worst Sales In 7 Years

Denton County home prices slid 2 percent in November as the DFW housing market experienced the worst sales decline in 7 years. The good news is that the sales volume estimates in the official press releases are now more reflective of reality. The bad news is that actual home sales in Dallas-Fort Worth are still rather soft. Home sales in Denton County dropped 9 percent in November, in line with the 8 percent decline seen for DFW. Pending home sales in Denton County slid 3 percent compared to the same time a year ago, slightly [...]

Yield Curve Inversion And Denton County Real Estate Prices

With renewed talk of yield curve inversion during the past week Denton County real estate prices are going to be interesting to watch. Some people are wondering how low the Federal Reserve's balance sheet will go as the try to unwind/reverse years of quantitative easing. As I was commenting earlier this morning, that balance sheet probably won't go as low as Fed officials originally planned. For all of the collective PhD economic talent employed at the Fed, they still can’t forecast their way out of a paper bag. The Fed has barely rolled off 10 [...]

Higher Prices, Shrinking Homes – Denton County’s New Underwater Borrowers Found In HUD Annual Report

The Department of Housing and Urban Development's Fiscal Year 2018 report to Congress is filled with useful information on the state of the U.S. mortgage market. Contained within the 2018 annual report we can see where the latest crop of underwater borrowers are hiding in Denton County Texas. As the size of new homes continues to shrink, particularly for entry-level buyers, prices increases have begun to moderate or even decline in many areas. This poses a big problem for unsuspecting home buyers who have been roped into the housing market at the cycle peak with [...]