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DFW New Homes

New Home Sales Market Finally Cooling Off

The market for new home sales is finally cooling off. The Census Bureau reported new home sales for March at 735,000 units (SAAR). This was 8.6% below the revised February estimate. It was also a 12.6% drop from March of last year. The median sales price of a new home contracted in March 2022 was $436,700. The average sales price was $523,900. Those were both new record highs. The unadjusted inventory of new homes stood at 5.7 months, up from 5.3 in February. Sky high prices and rising interest rates are now acting to cool [...]

By |2022-04-27T11:43:04+00:00April 27th, 2022|Denton County Home Prices, Denton County Real Estate, Denton County Relocation, Denton Tx New Homes, Denton TX Real Estate, DFW Home Prices, DFW New Homes, DFW Real Estate, DFW Relocation, Mortgage Rates, New Home Sales|0 Comments
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New Home Sales Begin Slide As Interest Rates Rise

New home sales are beginning to slide as rising rates clamp down on the housing market euphoria. The Census Bureau reported February new home sales at a seasonally adjusted annual rate (SAAR) of 772,000 units. That's a 2 percent slide from January and down 6.2 percent from last year. The unadjusted February sales estimate shows 65,000 new homes sold. That translates to a 7 percent slide year-over-year. The median price of a new home came in at $400,600. The average price posted at $511,000, a new record high for the series. It's interesting to note [...]

By |2022-03-23T18:47:44+00:00March 23rd, 2022|Denton County New Homes, Denton County Real Estate, Denton County Relocation, Denton Tx New Homes, Denton TX Real Estate, DFW New Homes, DFW Real Estate, Economy, Mortgage Rates, Real Estate|0 Comments
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Collateral Damage Coming to the North Texas Housing Market

Collateral damage in the North Texas housing market is beginning to reveal itself. Inflation is at a fresh 40-year high. Homes have never been more expensive, and interest rates are on the rise. Official consumer price inflation just printed at an annual pace of 7.9 percent. This is with many of the official CPI metrics understating actual inflation. This is also before the spike in global energy markets with the tragedy unfolding in Ukraine. While many housing industry pundits were clinging to the slight drop in mortgage rates last week, that blip is now a [...]

By |2022-03-17T14:46:55+00:00March 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, Denton TX Real Estate, DFW Home Prices, 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 Fall as Rising Rates Temper Demand

New home sales fell in January to a seasonally adjusted annual rate (SAAR) of 801,000 units. The previous three months were revised higher. Census Bureau estimates put new home sales 4.5 percent below the revised December numbers. New home sales were 19.3 percent lower than January of last year. The median price of a new home contracted in January was $423,300. The average sales price of a new home posted at $496,900. That was a new all-time high. Median and average new home prices both hit new record highs in North Texas in January. On [...]

By |2022-02-25T12:37:03+00:00February 24th, 2022|Denton County New Homes, Denton County Real Estate, Denton County Relocation, Denton Tx New Homes, Denton TX Real Estate, DFW New Homes, DFW Real Estate, DFW Relocation, Economy, Housing Market, Housing Policy, Monetary Policy, Mortgage Rates|0 Comments
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North Texas Housing Market Correction Taking Shape

A housing market correction is coming to North Texas. Don't say you weren't warned. The data points have been piling up for months. The only question remaining is how this all plays out, or more specifically how much pain the Fed is willing to tolerate. Inflation Rages Today's headline print for CPI inflation came in at a red-hot 7.5%. Despite many experts' assumptions that inflation would be moderating, core inflation has actually been increasing in each of the last three month's readings from the Bureau of Labor Statistics. Jerome Powell and the FOMC decided to [...]

By |2022-02-17T16:37:36+00:00February 10th, 2022|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 Tx Home Prices, Denton TX Homes For Sale, Denton Tx New Homes, Denton TX Property Taxes, Denton TX Real Estate, DFW Home Prices, DFW Homes For Sale, DFW New Homes, DFW Real Estate, DFW Relocation, Economy, Housing Market, Monetary Policy, Mortgage Rates|0 Comments
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New Home Sales Rise in December, But Headwinds Mounting

New home sales were a bit better than expected in December. The Census Bureau reported new home sales at a seasonally adjusted annual rate (SAAR) of 811,000 units. Previous months were revised lower. The median price of new home came in at $377,700. The average price of new construction contracted in December was $457,300. New home sales are still suffering from supply constraints. Completed inventory remains very low while the number of units technically for sale remains very high. Looking at unadjusted numbers out of the 408,000 homes "for sale" at the end of December [...]

By |2022-01-26T23:54:42+00:00January 26th, 2022|Denton County New Homes, Denton County Real Estate, Denton County Relocation, Denton Tx New Homes, Denton TX Real Estate, DFW New Homes, DFW Real Estate, DFW Relocation, Housing Market, Monetary Policy, New Home Sales, Politics, Spin Cycle|1 Comment
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North Texas Real Estate Shatters Records, Before The Fed Pulls the Rug

North Texas real estate shattered a number of records as we closed out the year. December saw record home prices in December as the Federal Reserve continued to pump asset prices. Available home inventory in the Dallas-Fort Worth area dipped to new record lows. Investors, speculators and other home buyers were busy fighting over the dwindling pool of properties available for for sale. The number of homes for sale in North Texas slipped to roughly 11,400 in December. There would be about 30,000 homes for sale in the DFW area under normal conditions. At the [...]

By |2022-01-22T12:47:35+00:00January 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 Tx Home Prices, Denton TX Homes For Sale, Denton TX Real Estate, DFW Home Prices, DFW Homes For Lease, DFW Homes For Sale, DFW New Homes, DFW Real Estate, DFW Relocation, Economy, Housing Market, Monetary Policy, Mortgage Rates|0 Comments
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October New Home Sales Below Expectations

New home sales came in lighter than expected for October. The previous three months were also revised lower. Census numbers showed October new home sales at a seasonally adjusted annual rate (SAAR) of 745,000 units. Months of supply rose slightly to 6.3, but up 80 percent from last year. If supply is so abundant, why aren't new homes selling like hotcakes? The answer lies in the real unadjusted data. The Census Bureau puts a lot of seasonally adjusted optimism into their figures. Headline Census estimates for new home sales get repeated by major media all [...]

By |2021-11-28T12:20:44+00:00November 27th, 2021|Denton County Home Prices, Denton County Homes For Sale, Denton County New Homes, Denton County Real Estate, Denton County Relocation, DFW New Homes, DFW Real Estate, DFW Relocation, Housing Market, Monetary Policy, Mortgage Rates, New Home Sales|0 Comments
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Median New Home Price Hits Record High $408,800

The median new home price in the United States hit a record high $408,800 in September. Census data for new home sales show the average price just off the record high at $451,700. The survey estimate for new home sales in September came in at a seasonally adjusted annual rate (SAAR) of 800,000 units. This was a 14 percent improvement from August, but still down 17.6 percent from the same time a year ago. North Texas saw a 16 percent decline in new home contracts from the same time a year ago. Closed sales were [...]

By |2021-10-26T21:35:05+00:00October 26th, 2021|Dallas TX Real Estate, 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 New Homes, DFW Real Estate, DFW Relocation, Mortgage Rates, New Home Sales|0 Comments
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North Texas Home Sales Continue To Soften

North Texas home sales continue to soften. September sales data reflect a 9 percent slide in closings in Denton County. The DFW area experienced a 5 percent slide in home sales last month according to NTREIS Trends data. Pending sales in Denton County were flat to just slightly negative last month. The broader Dallas-Fort Worth area saw a 3 percent decline in September sales contracts. With the Federal Reserve expected to announce a taper of their huge asset purchase program ($120 billion per month) things have been a little wobbly in the markets. After marching [...]

By |2021-10-10T16:47:17+00:00October 10th, 2021|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, Economy, Housing Market, Markets, Monetary Policy, Mortgage Rates|0 Comments
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