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Economy

Economic Issues Affecting Texas Housing Markets

New Home Sales Softer In January At 593,000 (SAAR)

New home sales came in softer than expected for January, posting at a seasonally adjusted annual rate of 593,000. The Census Bureau numbers were 7.8 percent lower than Decembers revised numbers and 1 percent below January 2017. The median price of a new home contracted in January was $323,000, while the average price of a new home stood at $382,700. There was 6.1 months of supply for new homes in January, a gain of almost a full month compared to this time a year ago. As interest rates have spike during the past two months, [...]

By |2019-02-06T01:41:29+00:00March 1st, 2018|Collin County Home Prices, Denton County Home Prices, Denton Tx Home Prices, DFW Home Prices, DFW Real Estate, Economy, Mortgage Rates, New Home Sales, Real Estate, Texas Home Prices|0 Comments
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Existing Home Sales Slump 4.8% In January, Denton County Sees 2.5% Rise

The National Association of Realtors reported that existing home sales slumped 4.8 percent in January. Despite a month-over-month increase in available inventory, existing home sales still came in softer than expected. The median price of an existing home was $240,500 in January, an increase of 5.8 percent from a year ago. Existing home prices have increased for 71 consecutive months according to NAR while existing home inventory has declined year-0ver-year for 32 consecutive months. In a sign that higher mortgage rates are starting to put a damper on sales, first-time buyers accounted for only 29 [...]

By |2019-07-20T19:52:53+00:00February 22nd, 2018|Dallas Tx Home Prices, Denton County Real Estate, Denton Tx Home Prices, Denton TX Homes For Sale, DFW Home Prices, DFW Homes For Sale, DFW Real Estate, Economy, Existing Home Sales, Housing Market, Mortgage Rates|0 Comments
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Denton County New Home Prices Jump 10% In January

Denton County new home prices jumped to a new high in January. According to NTREIS data the price of closed new construction within Denton County Texas was 10.2 percent higher year-over-year with the average price per square foot of a new Denton County home hitting $151. The total price of a new home was up 11 percent to $436,571. These are some impressive price increases particularly for what is normally a slower part of the selling season. December was a banner month for new home sales throughout the DFW area, and January looks to be [...]

By |2018-05-12T00:51:53+00:00February 16th, 2018|Denton County Home Prices, Denton County New Homes, Denton County Real Estate, DFW Home Prices, DFW Real Estate, Economy, Mortgage Rates, New Home Sales, Texas Real Estate|0 Comments
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DC’s Fiscal Lunacy, Fed’s Unwind Creating Waves For Housing Market

The fiscal lunacy in Washington and the Federal Reserve's balance sheet unwind are creating waves for the housing market. 2018 was starting off on the right foot with a noticeable, yet moderate rise in bond yields. As we received more concrete evidence that the Federal Reserve was actually unwinding some of that gigantic balance sheet, volatility erupted pretty quickly. After a 12oo point plunge in the Dow, some savvy mortgage borrowers probably took advantage of the temporary fear in the market to score a decent mortgage rate. It was a small window of opportunity, because [...]

By |2018-09-08T15:50:43+00:00February 8th, 2018|Denton County Real Estate, DFW Real Estate, Economy, Housing Market, In the Press, Markets, Mortgage Rates, Mortgages, Politics, Real Estate, Spin Cycle, Texas Real Estate|0 Comments
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Fed Unwinds $21 Billion, Markets Puke On Higher Yields

The Federal Reserve System Open Market Account Holdings (SOMA) report for January 31st finally revealed the balance sheet unwind in action. Since the Fed announced their balance sheet unwind last year, the actual process had been proceeding at a snails pace, particularly with the mortgage-backed securities portfolio. The MBS instruments can take 2-3 months to roll off, so the MBS unwind has been virtually invisible until this week. With a $21 billion drawdown in the latest week, including over $10 billion in agency MBS unwind, it becomes increasingly clear why the markets were puking all [...]

By |2018-05-12T00:52:47+00:00February 2nd, 2018|Collin County Home Prices, Dallas Tx Home Prices, Denton County Home Prices, Denton County Real Estate, Denton Tx Home Prices, DFW Home Prices, DFW Real Estate, Economy, Education, Housing Market, In the Press, Mortgage Rates, Politics, Regulation, Texas Employment|0 Comments
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Federal Reserve Sowed The Seeds Of The Next Housing Downturn

The Federal Reserve is poised to cause yet another housing downturn in the U.S. I'm not talking about a spectacular Lehman style apocalypse mind you, but an honest downturn that will be unavoidable. Today's S&P Case-Shiller home price index showed another rise in Dallas home prices in November. This is essentially lagged data confirming what most prospective DFW home buyers already knew, namely that Dallas area home prices are pretty damn high. The national index showed that U.S. home prices were up 6.2 percent, or roughly three times average U.S. hourly income growth. The BEA [...]

By |2019-04-12T16:19:09+00:00January 30th, 2018|Collin County Home Prices, Dallas Tx Home Prices, Denton County Home Prices, Denton County Real Estate, Denton Tx Home Prices, DFW Home Prices, DFW Real Estate, Economy, Housing Market, Mortgage Rates, Spin Cycle, Texas Real Estate|0 Comments
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Fed Adds $705 Million Agency MBS With Un-Unwind

The Federal Reserve's balance sheet unwind was MIA again this week as agency MBS increased with latest System Open Market Account Account Holdings report. SOMA January 24 holdings reflected a magical $705 million INCREASE in agency mortgage-backed securities. This is rather strange behavior indeed for what was advertised as a balance sheet "unwind". It's looking more like the un-unwind, at least for the past two weeks. Much like the crony capitalist elite dining in Davos, the fine purveyors of bogus economic theory inhabiting the halls of the Marriner Eccles building are probably a tad bit [...]

By |2018-01-26T16:14:43+00:00January 26th, 2018|DFW Real Estate, Economy, Housing Market, Housing Policy, In the Press, Mortgage Rates, New Home Sales, Real Estate, Spin Cycle, Texas Real Estate|0 Comments
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New Home Sales Get Reality Check In December As Median Prices Hit Record High

Following yesterday's relatively weak existing home sales numbers from NAR, December new home sales posted at at seasonally adjusted annual rate of 625,000. That was a 9 percent drop from the euphoric November new home sales numbers, which were revised sharply lower along with October numbers. The median price of a new home in the U.S. hit a new high of $335,400 while the average price rose to $398,900. Existing home sales continue to suffer from an acute shortage of inventory and inflated prices. New home sales, while still growing, are even more expensive compared [...]

By |2019-02-06T01:43:16+00:00January 25th, 2018|Dallas Tx Home Prices, Denton County Home Prices, Denton County New Homes, Denton County Real Estate, Denton TX Homes For Sale, Denton Tx New Homes, DFW Home Prices, DFW New Homes, DFW Real Estate, Economy, Existing Home Sales, Housing Market, New Home Sales, Real Estate, Relocation|0 Comments
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Dallas TX Employment Growth Sputters In December But Finishes Year Higher

Dallas TX employment growth sputtered in December with the non-adjusted numbers from the Texas Workforce Commission showing a gain of 2000 jobs for DFW in December. That's a far cry from the strong numbers seen in November, but the yearly gains were still respectable. Over the 12 month period the Dallas-Fort Worth-Arlington MSA added 91,700 jobs. Dallas Fort Worth is still running hotter than the Houston region, with CPI numbers that are almost twice as strong (3.2% vs 1.7%). The official (massaged) unemployment rate in Dallas stood at 3.6% in December. Houston posted an unemployment [...]

By |2020-03-28T14:43:47+00:00January 20th, 2018|Collin County Home Prices, Dallas Tx Employment, Denton County Home Prices, Denton County Real Estate, DFW Home Prices, DFW Real Estate, Economy, In the Press, Mortgage Rates, Texas Employment, Texas Home Prices, Texas Real Estate|0 Comments
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Balance Sheet Unwind Hits Reverse As Interest Paid To Banks Soars

True to form, the Federal Reserve is taking a rather cautious approach to their balance sheet unwind with this week's System Open Market Account (SOMA) report showing an INCREASE of a $million in the Fed's bloated account holdings. So much for unwinding!  If you were wondering how equity markets could be marching to new highs every week in the face of tepid organic economic growth, you have your answer. Today's inflation numbers show that the Federal Reserve still can't seem to generate any inflation in the economy, with core inflation rising only 1.8% year-over-year. Home [...]

By |2018-05-12T00:53:12+00:00January 12th, 2018|Collin County Home Prices, Dallas Tx Home Prices, Denton County Home Prices, Denton County Real Estate, DFW Home Prices, DFW Real Estate, Economy, Housing Market, Housing Policy, Politics, Real Estate, Texas Home Prices|0 Comments
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