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Real Estate Development News

Denton TX Road Construction Projects Bring Changes For Motorists In 2018

Road construction projects in Denton TX are going to bring more frustration to motorists in 2018. The good news is that long overdue road improvements should alleviate some of Denton's growing congestion points where development has taxed the local transportation infrastructure. Below you can read the comprehensive transportation project reports presented at the January 16 meeting of the Denton City Council. Along Interstate 35-E work on the Loop 288 interchange continues. A turnaround lane should be installed soon. An underpass linking to Brinker Road is also in the works, so look for that improvement as [...]

Denton County Home Construction Marches Higher

Denton County home construction pushed higher at the end of 2017, with the number of new homes on the market up over 16 percent. That figure is likely even higher since some new home construction is intentionally left out of the multiple listing service by home builders to avoid spooking potential home buyers with any obvious inventory gluts. Recent numbers from Dallas-based Residential Strategies showed construction starts in the DFW area up 20 percent in the fourth quarter of 2017. The increase in construction is a welcome sign, particularly since resale home inventory continues to [...]

New Home Sales Jump In October, Average Prices Hit New High

New home sales continued to enjoy a hurricane-related boost in October. The Census Bureau reported new single-family home sales at a seasonally adjusted annual rate of 685,000, up 6.2 percent from revised September numbers and 18.7 percent higher than a year ago. The median price of a new home in October was $312,800 while the average price of a new home was $400,200. The talking heads will no doubt see this as a boon for the housing industry, and the numbers are certainly encouraging. That being said, I wouldn't read too much into the volatile [...]

Average New Home Size Continues To Shrink

The National Association of Home Builders reported that the median and average size of a new home in the U.S. continued to decline in the third quarter. Third quarter numbers on housing starts show that the median single-family new home size was 2,378 square feet.  The average square footage for new single-family homes declined to 2,518 square feet. According to the NAHB, this is apparently just part of the normal housing cycle. "The post-recession increase in single-family home size is consistent with the historical pattern coming out of recessions. Typical new home size falls prior to and during a [...]

3000 New Homes Coming To Pecan Square Northlake TX

Hillwood Communities has purchased 1157 acres for a new master-planned community to be named Pecan Square. Pecan Square will be a new development in Northlake Texas, west of I-35 along FM 407. Pecan Square will feature new homes from Ashton Woods, CalAtlantic (aka Lennar post-merger), D.R. Horton, David Weekley, Highland, Perry, Plantation and Pulte. Hillwood Communities expects to break ground on Pecan Square in the spring of 2018 with new homes arriving to the market in the summer of 2019. New home prices in Pecan Square are slated to start in the mid $200's. Pecan [...]

New Home Sales Get Hurricane Boost

New home sales rose 17 percent in September compared to the same month last year. Census estimated new home sales for September at a seasonally adjusted annual rate (SAAR) of 667,000 in September. The median price of a new home contracted in September was $319,700 while the average price of a new home contracted in September stood at $385,200. Both figures represent increases from last year's prices. The supply of new homes decreased to 5 months in September, a slight decrease from the 5.1 month supply level at this time last year. The rise in [...]

Dallas Home Prices Challenge Builders

Dallas home prices are expensive, and builders are finally getting the message. That's the news from the most recent data on home starts in the DFW area, which reportedly surged in the 3rd quarter. Builders reportedly started 8,853 single-family homes in the DFW metroplex. For the 12 months ending in September there were apparently 32,234 permits recorded. This was the highest total in a decade. More interestingly, builders' starts for houses under $500,000 rose by 14.5% during the past year. Builders are finally waking up to the fact that the Dallas Fort Worth housing market [...]

New Home Sales Cool 1.2% In August

The Census Bureau reported that new home sales fell 1.2% year-over-year in August. As we saw last week with the existing home sales decline, Hurricane Harvey put a damper on real estate transactions in the southern states. It is quite likely that September home sales will also be affected by the fallout from Harvey. The median price of a new home contracted in August was $300,200 during the month of August. The average price of a new home contracted last month was $368,100. Both figures represent price increases from a year ago. Median new home [...]

Dallas Tx Home Prices Distorted By Fed Liquidity

Dallas Tx home prices continued to pusher higher this summer, but there is more to the story that you are not being told. Global central banks continue to levitate markets higher in a frenzied attempt to delay price discovery and push inflation higher.  A recent report shows $1.96 trillion in asset purchases by central banks in 2017. Since the collapse of Lehman Brothers nearly a decade ago, central bank balance sheets have swelled to over $15 trillion. Fed chair Janet Yellen continues to bark about a 2 percent inflation target that remains elusive, even while the [...]

New Home Sales Fall 9 Percent In July

New home sales fell to a seasonally adjusted annual rate of 571,000 units in July. This was well below consensus estimates and roughly 9 percent lower than last years rate of 627,000 units according to Census Bureau numbers. The median price of a new home contracted in July was $313,700 and the average price of a new home in July was $371,200. Sharp price increases compared to last year help to explain the sharp decrease in new home sales activity in July. On a positive note, the three previous months of sales were revised higher. [...]