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DFW Home Prices

North Texas Housing Market Looks to Fed for Signs of Relief

The North Texas housing market continues to hope for a soft landing by the Fed. Agents and market participants continue to front-run a Fed pivot that hasn't happened. There are plenty of people in the real estate industry who want and need lower rates to bolster their business. Many of these same people are agents and levered speculators who feasted on the $trillions in stimulus that drove the markets to their bubble highs. Fortunately cooler heads are currently driving policy. Normalization in the housing market continues to trim some of the froth from the housing [...]

By |2024-08-13T11:25:28+00:00January 9th, 2023|Denton County Home Prices, Denton County New Homes, Denton County Real Estate, Denton County Relocation, Denton Realtor, Denton Tx Home Prices, Denton TX Homes For Sale, Denton TX Real Estate, DFW Home Prices, DFW Homes For Sale, DFW Real Estate, DFW Relocation, Housing Market, Housing Policy, Monetary Policy, Mortgage Rates|0 Comments
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Denton County Housing Market Correction Continues

The Denton County housing market correction continues to evolve. October home closings fell 22 percent year-over year. Pending sales were down by a similar amount. The housing market reset continues to take shape across North Texas as inflated home prices crumble under the weight of the Federal Reserve's tightening cycle. Six and seven percent mortgage rates have proven to be too much for a housing market that ran up too far too fast during the pandemic. Median home prices in Denton County continue to cool. Median home prices are down about $45,000 from the spring [...]

By |2022-11-18T23:11:28+00:00November 11th, 2022|Denton County Home Prices, Denton County Homes For Sale, Denton County New Homes, Denton County Real Estate, Denton County Relocation, DFW Home Prices, DFW Homes For Sale, DFW New Homes, DFW Real Estate, DFW Relocation, Housing Market, Monetary Policy|0 Comments
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North Texas Housing Market in Full-Blown Correction Mode

The North Texas housing market is now in full-blown correction mode. The Federal Reserve's housing market "reset" message is finally sinking in. Home sales volumes continue to slide. Home prices in the Dallas-Fort Worth area continue to drop from their blow-off peaks earlier this year. Mortgage interest rates have spiked to seven percent, while the Fed puts the balance sheet roll-off into high gear. The correction in real estate prices has caused many of the larger asset owners, particularly those in the private equity space and the consultants who serve them, to lose their minds. [...]

By |2024-02-13T15:19:58+00:00October 10th, 2022|Denton County Home Prices, Denton County New Homes, Denton County Real Estate, Denton County Relocation, Denton Tx Home Prices, Denton Tx New Homes, Denton TX Real Estate, DFW Home Prices, DFW New Homes, DFW Real Estate, DFW Relocation, Housing Market, Monetary Policy, Mortgage Rates|0 Comments
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August New Home Sales Surprise to the Upside

August new home sales came in better than expected. The Census Bureau reported new home sales of August at a seasonally adjusted annual rate (SAAR) of 685,000 units. Previous months were revised slightly higher. "New Home Sales Sales of new single‐family houses in August 2022 were at a seasonally adjusted annual rate of 685,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 28.8 percent (±18.3 percent) above the revised July rate of 532,000, but is 0.1 percent (±16.5 percent)* below the August [...]

By |2022-09-27T21:08:01+00:00September 27th, 2022|Denton County Home Prices, Denton County New Homes, Denton County Real Estate, Denton County Relocation, DFW Home Prices, DFW Homes For Sale, DFW New Homes, DFW Real Estate, DFW Relocation, Housing Market, Mortgage Rates|0 Comments
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Home Prices Are Falling – Time to Face Reality

North Texas home prices continued to fall in August. The post-pandemic housing bubble in the DFW area continues to deflate. The Fed is actively pushing for a housing reset. After facilitating reckless asset price inflation during the pandemic, taming inflation is now priority number one for the Powell Fed. Powell told us this week they will keep at it until the job is done. Denton County home sales were down 6 percent compared to August of last year. Pending sales slide even further, dropping 12 percent. With rates heading back toward 6 percent, activity and [...]

By |2022-09-15T14:19:47+00:00September 10th, 2022|Denton County Home Prices, Denton County Homes For Sale, Denton County New Homes, Denton County Real Estate, Denton County Relocation, Denton Tx Home Prices, Denton TX Homes For Sale, Denton Tx New Homes, DFW Home Prices, DFW Homes For Sale, DFW Real Estate, DFW Relocation, Economy, Housing Market, Housing Policy, Monetary Policy, Mortgage Rates|0 Comments
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New Home Sales Take a Dive in July – 7.3 Months Supply of New Homes Under Construction

New home sales dropped sharply in July. High prices and dramatically higher mortgage rates have taken their toll on the new construction housing market. The median sales price of new houses sold in July 2022 came in at $439,400. The average sales price was $546,800. That rebound in prices was exactly what the new home market didn't need. New home affordability has been crushed with higher mortgage rates. "Sales of new single‐family houses in July 2022 were at a seasonally adjusted annual rate of 511,000, according to estimates released jointly today by the U.S. Census [...]

By |2022-08-24T17:44:36+00:00August 24th, 2022|Denton County Homes For Sale, Denton County New Homes, Denton County Real Estate, Denton County Relocation, DFW Home Prices, DFW New Homes, DFW Real Estate, DFW Relocation, Housing Market, Housing Policy, Markets, Mortgage Rates, New Home Sales|0 Comments
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New Home Prices Drop Sharply as Sales Hit a Wall

The Census Bureau reported new home sales for June at a seasonally adjusted annual rate of 590,000 units. This was below expectations. The three previous months were revised lower as well. New home sales in June were 8.1 percent lower than May and 17.4 percent lower than the same time last year. The median price of a new home dropped to $402,400. The average sales price posted at $456,800. Those were the lowest prices for 2022. Average new home prices just crashed 19.8 percent ($112,500) from the April blow-off top this year according to Census [...]

By |2022-07-28T16:47:39+00:00July 26th, 2022|Denton County Home Prices, Denton County New Homes, Denton County Real Estate, Denton County Relocation, DFW Home Prices, DFW New Homes, DFW Real Estate, DFW Relocation, Housing Policy, Monetary Policy, Mortgage Rates, New Home Sales|0 Comments
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Denton County Home Inventory Piling Up as Housing Market Stalls

Home inventory in Denton County continues to pile up as the North Texas housing market stalls. The post-pandemic housing bubble is now popping under the pressure of dramatically higher mortgage rates and a lack of affordability. NTREIS figures show Denton County home sales fell 10 percent from June of last year. Pending sales declined roughly 8 percent year-over-year. The inventory of homes available for sale is up 80 percent from a year ago. With the decline in sales, months of inventory has spiked 90 percent from a year ago. Months of inventory for new construction [...]

By |2022-07-14T14:37:24+00:00July 9th, 2022|Denton County Home Prices, Denton County Homes For Sale, Denton County New Homes, Denton County Real Estate, Denton County Relocation, DFW Home Prices, DFW Homes For Sale, DFW New Homes, DFW Real Estate, DFW Relocation, Monetary Policy, Mortgage Rates, Spin Cycle|0 Comments
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New Home Sales Improve Slightly With Lower Prices

New home sales improved in May...with some significantly lower prices. The Census Bureau reported new home sales for May at a seasonally adjusted annual rate (SAAR) of 696,000 units. That was better than revised April numbers, but 5.9 percent lower than a year ago. The median sales price of a new house sold in May 2022 was $449,000. The average sales price was $511,400. That's a $58,100 drop from the average price in April. The seasonally adjusted months of inventory stood at 7.7 months of supply. It is worth noting that the supply of homes [...]

By |2022-06-25T15:46:12+00:00June 25th, 2022|Denton County Home Prices, Denton County New Homes, Denton County Real Estate, Denton County Relocation, DFW Home Prices, DFW New Homes, DFW Real Estate, DFW Relocation, Housing Market, Monetary Policy, Mortgage Rates, New Home Sales, Real Estate, Spin Cycle|0 Comments
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Powell Fires Warning Shot at the Housing Market

This is a rough transcript of Jerome Powell's remarks on housing during this week's post-FOMC press conference. I apologize for any errors. Powell's remarks on housing come around the 1:51 mark toward the end of the press conference. See video below. It appears Jerome has finally figured out housing inflation is a serious headwind to the Fed's efforts to curtail raging inflation. It makes you wonder what they were looking at for the entirety of 2021 when the Powell Fed was pretending inflation was transitory. Question from Bankrate's Mark Hamrick: I Wonder what your assessment [...]

By |2022-06-16T21:18:02+00:00June 16th, 2022|Denton County Home Prices, Denton County Real Estate, Denton TX Real Estate, DFW Home Prices, DFW Real Estate, Housing Policy, Monetary Policy, Mortgage Rates, Politics, Real Estate, Spin Cycle|0 Comments
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