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New Highs For Mortgage Rates Curb Denton County’s Real Estate Market

Denton County's real estate market ran into significant hurdles in August. Mortgage interest rates for prospective buyers reached a new high for the cycle. That took a bite out of sales activity as the summer winded down. Closed sales in Denton County fell ten percent form the same time last year. Forward-looking contract activity slid 5 percent. Median and average home prices also cooled for second consecutive month. One thing that didn't cool in August was the incentives and mortgage-rate buydowns offered by new home builders. New home builders are agnostic sellers. They do what [...]

By |2024-08-13T11:18:05+00:00September 11th, 2023|Denton County Home Prices, Denton County Homes For Sale, Denton County New Homes, Denton County Real Estate, Denton County Relocation, Denton Realtor, Denton Tx Home Prices, Denton TX Homes For Sale, Denton Tx New Homes, Denton TX Real Estate, DFW Homes For Sale, DFW New Homes, DFW Real Estate, DFW Relocation|0 Comments
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Denton County House Payments Hit Record Highs

Denton County house payments hit record highs in July. Prospective home buyers continued to get pinched by higher mortgage rates and the rebound in North Texas home prices through the first half of the year. As mortgage rates mushroomed back toward 7 percent, area house payments have soared for buyers using a market rate mortgage. Median home prices came in at $475,000 for the month of July. The median house payment for Denton County buyers factoring in the rise in interest rates translates to a principal and interest payment of over $2500 per month. That's [...]

By |2024-08-13T11:18:46+00:00August 11th, 2023|Denton County Home Prices, Denton County Homes For Sale, Denton County New Homes, Denton County Real Estate, Denton County Relocation, Denton Realtor, DFW Home Prices, DFW Homes For Sale, DFW New Homes, DFW Real Estate, DFW Relocation, Economy, Housing Market, Housing Policy, Monetary Policy, Mortgage Rates, Real Estate|0 Comments
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New Home Sales Bounce in May with Big Drop in Prices

The Census Bureau reported new home sales in May at a seasonally adjusted annual rate (SAAR) of 763,000 units. That was 12.2 percent better than the revised April estimate and 20 percent better than May of last year. So what drove the jump in new home sales? Lower prices! "The median sales price of new houses sold in May 2023 was $416,300. The average sales price was $487,300." That average new home price of $487,300 is the lowest in 2023 and over $28,000 lower than the March estimate. The May average price is $81,400 lower [...]

By |2023-06-27T15:26:13+00:00June 27th, 2023|Denton County New Homes, Denton County Real Estate, Denton County Relocation, DFW Home Prices, DFW New Homes, DFW Relocation, New Home Sales|0 Comments
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Denton County New Home Market Headed for Another Slowdown

Denton County's new home market is headed for another slowdown. High prices and a rebound in interest rates to that critical seven percent mark are just part of the problem. There's also a pending recession on deck. The Census Bureau reported April new home sales at a seasonally adjusted annual rate of 683,000 units. That was better than expected, but previous months were revised lower. Cancellation rates for builders have come back down, but new home affordability remains an issue. There is still a large backlog of homes under construction. Any softness in the economy [...]

By |2023-05-24T12:04:00+00:00May 24th, 2023|Denton County New Homes, Denton County Real Estate, Denton County Relocation, Denton Tx New Homes, DFW New Homes, DFW Real Estate, DFW Relocation, Economy, Housing Market, Monetary Policy, Mortgage Rates, New Home Sales|0 Comments
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Denton County Home Prices Bounce, But Still Lower Than a Year Ago

The Denton County and North Texas housing market continued to bounce in April. Median home prices were up over $40,000 from January, but still down 1.6 percent from April of last year. The ridiculous bubble from the spring of 2022 continues to make for tough year-over-year comparisons. Thin resale inventory and higher prices are still taking a toll on sales. Closed sales in Denton County were down 8 percent from a year ago, while pending contracts were 5 percent lower. With the tighter conditions this spring average days on market fell to 51 days. Average [...]

By |2024-08-13T11:22:01+00:00May 11th, 2023|Denton County Home Prices, Denton County Homes For Rent, Denton County Homes For Sale, Denton County New Homes, Denton County Property Taxes, Denton County Real Estate, Denton County Relocation, Denton Realtor, Denton Tx Home Prices, Denton TX Homes For Sale, Denton TX Property Taxes, Denton TX Real Estate, DFW Home Prices, DFW Homes For Lease, DFW Homes For Sale, DFW New Homes, DFW Real Estate, DFW Relocation, Housing Market, Housing Policy, Mortgage Rates|0 Comments
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Real Estate Market Bounces as Banking Crisis Fades

The real estate market bounced in March as turmoil in the banking sector subsided. Denton County home sales nearly doubled from the January lows, putting sales up 13 percent from a year ago. Pending contract edged up as well, placing contract activity 10 percent higher than March of last year. Some context is in order here since activity is still light compared to historical trend. This is largely due to diminished inventory levels. Denton County was still sitting on 1.8 months of supply in March. That's down from the 2.9 months we saw in October [...]

By |2024-08-13T11:23:01+00:00April 10th, 2023|Denton County Home Prices, Denton County New Homes, Denton County Real Estate, Denton County Relocation, Denton Realtor, Denton TX Homes For Sale, Denton Tx New Homes, Denton TX Real Estate, DFW Employment, DFW Homes For Sale, DFW New Homes, DFW Real Estate, DFW Relocation, Housing Market, Monetary Policy, Mortgage Rates|0 Comments
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Denton County Housing Market – Calm Before the Storm?

The Denton County housing market experienced a temporary lift in the first two months of the year. February home sales bounced from the January lows putting them 15 percent higher than the same month last year. Pending sales were up 23 percent in February across Denton County. Median and average home prices bounced slightly during the month. The available supply of homes dipped to just 1.7 months. As more sellers and builders chopped prices in recent months, more buyers stepped back into the market. Percent of original list price has made marginal improvements for the past [...]

By |2024-08-13T11:23:53+00:00March 10th, 2023|Denton County Home Prices, Denton County Homes For Sale, Denton County New Homes, Denton County Real Estate, Denton County Relocation, Denton Realtor, 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, Housing Policy, Monetary Policy, Mortgage Rates|0 Comments
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Price Drops and Lower Mortgage Rates Provided Temporary Lift to New Home Sales

The Census Bureau reported new home sales for January at a seasonally adjusted annual rate of 670,000 units. This is old news, but more confirmation of what we have seen in the local North Texas housing market. The boost to new home sales at the end of 2022 and January of this year was the result of improved affordability. It was a confluence of several events. The key ingredients were as follows: Overly loose financial conditions with many Americans still sitting on excess savings Falling mortgage rates in December and January Significant price reductions from [...]

By |2023-02-25T14:27:39+00:00February 24th, 2023|Denton County New Homes, Denton County Real Estate, Denton County Relocation, DFW New Homes, DFW Real Estate, DFW Relocation, Monetary Policy, Mortgage Rates, New Home Sales|0 Comments
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Higher Rates Coming Back for the North Texas Housing Market

The North Texas housing market started off the year with renewed animal spirits. It appears the Powell Fed made a colossal mistake by taking their foot off the breaks before inflation has been vanquished. We can already see signs of inflation percolating again in the housing market. The Fed Back to Where it Started The first FOMC meeting of 2023 revealed a huge blunder by the Powell Fed. As the markets ramped higher for the last month asset owners cheered that inflation had been conquered. Housing market participants reveled in the headlines of a coming [...]

By |2024-08-13T11:24:48+00:00February 10th, 2023|Denton County Home Prices, Denton County Homes For Rent, Denton County Homes For Sale, 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 New Homes, DFW Real Estate, DFW Relocation, Housing Market, Monetary Policy, Mortgage Rates|0 Comments
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New Home Sales Receive a Small Boost From Lower Prices and Rates

New home sales received a slight boost in December. The Census Bureau reported new home sales at a seasonally adjusted annual rate of 616,000 units. This was in line with expectations, but previous months were revised lower. The median price of a new home in the U.S. was $16,900 lower in December. Sales were also helped by mortgage rates dropping roughly half a percentage point. The supply of new homes dipped in December, but finished inventory continues to grow. There are now 1.4 months of completed new construction inventory in the U.S. There is plenty [...]

By |2023-01-26T22:19:43+00:00January 26th, 2023|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|0 Comments
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940-209-2100

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