Denton Tx Home Prices

/Denton Tx Home Prices

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 [...]

Texas Realtors Pay Over $6 Million For Bogus Research At A&M RECenter

"The first rule of fight club is: You do not talk about fight club." Texas Realtors continue to throw money at bogus research at the Texas A&M Real Estate Center. Many Texas Realtors probably don't even know that a portion of their annual licensing dues goes to pay the salaries of the staff at the RECenter. Many are probably unaware of how they are being shortchanged by this Texas institution which is still partnering with the Federal Reserve when it comes to economic research. That is a shame, because the garbage being produced by the [...]

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 [...]

DFW Contract Activity Cools In April As Stimulus From Lower Rates Fades

DFW contract activity faded in April. Looking at the preliminary sales data for North Texas, it is apparent that the stimulus from the big drop in mortgage rates has run its course. It will be another week or so before we get the official press release numbers, but the data is telling. April was another good month for home sales. Actual closings for home sales showed a robust real estate market in the Dallas-Fort Worth area, but contract signings were another matter. Preliminary sales data indicate that the DFW real estate market is peaking prematurely [...]

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. [...]

NAR: Existing Home Sales Disappoint, Down 5.4% In March

The National Association of Realtors reported existing home sales dropped 4.9 percent in March. This puts existing U.S. home sales down 5.4 percent compared to last year. Apparently the stimulus provided by crashing mortgage interest rates has already run its course. Home builders certainly aren't taking any chances, as confirmed by the weak starts and permits data we saw last week. Builders are apparently happy to sell off some of their remaining new home inventory rather than ramp up production in a meaningful way. NAR reported that the median price of an existing home in [...]

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 [...]

Denton County Real Estate Market Gets Lift From Crashing Yields, Lower Rates

The Denton County real estate market is getting a much-needed lift going into the spring selling season. That lift is coming courtesy of crashing bond yields and a drop in mortgage interest rates. Lower interest rates were desperately needed to stimulate a stagnating housing market. The Freddie Mac Primary Mortgage Market Survey confirmed today what many have been expecting.... a continued drop in mortgage rates. Freddie Mac's index just posted the biggest one-week drop in a decade. If the economy continues to slow, 3 percent mortgage rates could be in play again. That could be [...]

Lower Mortgage Rates Fuel February Rebound In Denton County Real Estate Market

Lower mortgage interest rates and a sharp rebound in the stock market helped fuel a rebound in the Denton County real estate market in February. Closed home sales declined 4 percent year-over-year, improving from poor January figures. Average home prices in Denton County rose 2.4 percent compared to February of last year. Pending home sales for February actually moved into positive territory rising 6 percent for the month. The increase in contract signings indicates that buyers were enticed by dramatically higher inventory levels and the improvement in mortgage interest rates. New home sales in particular, [...]

Shadow Bank Lending, Rising Debt To Income Ratios Fueling Denton County Home Price Growth

Shadow banks, or nonbanks as they are often called, continue to dominate the mortgage space in the real estate echo bubble. This is the case in Denton County Texas and all across the country. Since 2008 the share of mortgage originations by nonbanks has more than doubled, rising from 24% in 2008 to 54% in 0217. The share of mortgages issued by traditional large banks continue to decline. As home prices rose throughout Denton County, the quality of the mortgages originated during this boom began deteriorating. Last year the deterioration in mortgage quality was pronounced. [...]