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DFW New Homes

New Home Sales Are Weaker Than Census Estimates

The Census Bureau reported new home sales for September at a seasonally adjusted annual rate of 603,000 units. According to Census estimates new construction sales fell 10.9 percent from August, putting sales down 17.6 percent from last year. Sorry Census, but you're a little late to the party. New home sales are materially weaker than these official guestimates. We had a good indicator from the third largest builder in the country, PulteGroup which just reported earnings this week. Pulte posted a net decline in new home orders of 28 percent compared to last year. The [...]

By |2022-10-26T22:29:25+00:00October 26th, 2022|Denton County New Homes, Denton County Real Estate, Denton County Relocation, Denton Tx New Homes, DFW New Homes, DFW Real Estate, DFW Relocation, Housing Market, Markets, Monetary Policy, Mortgage Rates, New Home Sales, Real Estate, Relocation|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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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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North Texas Housing Market – Summer of Denial

The North Texas housing market continued correcting in July. Closed sales were 15 percent lower for the DFW compared to July of last year. Pending contracts also slid lower by a corresponding amount. The median price of a home in the Dallas-Fort Worth market slipped to $389,000, up 16.1 percent year-over-year. Average prices in DFW dropped even more, sliding over $25,000 from the high in June. That may be the high for North Texas home prices for a few years depending on how this cycle plays out. The housing market correction has definitely been noticeable [...]

By |2022-08-10T21:38:28+00:00August 10th, 2022|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, DFW Homes For Lease, DFW Homes For Sale, DFW New Homes, DFW Real Estate, DFW Relocation, Housing Market, Housing Policy, Monetary Policy, Mortgage Rates|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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7 Tips for Denton County Home Buyers as the Housing Bubble Pops

Here are 7 tips for Denton County home buyers as the post-pandemic housing bubble pops. We've seen some epic moves in the bond markets the last few days. The yield on the 10-year treasury bond spiked to 3.5% on Tuesday, pushing mortgage rates to yearly highs. The rate on 30-year fixed-rate mortgage jumped to 6.28% according to Mortgage News Daily. Inflation is raging, and consumers are losing patience. If they aren’t already priced out of the market, many buyers are hitting the pause button. Home affordability has been absolutely crushed the last few months as the [...]

By |2022-06-15T10:30:56+00:00June 15th, 2022|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, DFW Home Prices, DFW Homes For Lease, DFW Homes For Sale, DFW New Homes, DFW Real Estate, DFW Relocation, Economy, Housing Market, Mortgage Rates|0 Comments
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New Home Sales Plunge with Affordability Concerns

New home sales took a serious nosedive in April. The Census Bureau reported new home sales for April at a seasonally adjusted annual rate (SAAR) of 591,000. That was way below consensus estimates and a 16.6 percent slide from the March figure.  New home sales were down 26.9 percent from April of last year. Previous months' estimates were also revised lower. The following two charts help explain why the consensus has been oblivious to what's really happening. Something was bound to give, and it finally did. In layman's terms, new homes are no longer affordable [...]

By |2022-05-24T21:24:39+00:00May 24th, 2022|Denton County Home Prices, Denton County Homes For Sale, Denton County New Homes, Denton County Real Estate, Denton County Relocation, DFW Homes For Sale, DFW New Homes, DFW Real Estate, DFW Relocation, Housing Market, Markets, Monetary Policy, Mortgage Rates, New Home Sales|0 Comments
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