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Economy

Economic Issues Affecting Texas Housing Markets

Denton Texas Employment Stalls With Fading Govt Stimulus

Denton Texas employment stalled in July as stimulus benefits for many Americans came to an end. While Denton and Denton County showed slight increases in employment from June levels, North Texas as a whole actually lost jobs during the month. The Dallas-Fort Worth-Arlington MSA region saw unadjusted nonfarm employment fall by 12,900 jobs from June levels. Employment for the North Texas region was down by 150,500 jobs compared to July 2019. The latest numbers from the Texas Workforce Commission in July are a stark reminder that the real economy has not fully recovered, even if [...]

By |2020-08-22T14:26:55+00:00August 22nd, 2020|Denton County Real Estate, Denton TX Real Estate, DFW Employment, DFW Real Estate, DFW Relocation, Economy, Employment, Texas Real Estate|0 Comments
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New Home Sales Continue Covid Rebound, Up 6.9% Year-over-Year

The Census Bureau reported new home sales for June at a seasonally adjusted annual rate of 776,000. That was a 13.8% jump from May sales and a 6.9% increase compared to June 2019. This was far better than June existing home sales reported by the National Association of Realtors this week which were still down 11.3% compared to the same time a year ago. According to Census estimates for June, median and average new home prices rose to $329,200 and $384,700 respectively. Both figures are sharp increases from May, and even June 2019. The non [...]

By |2020-07-24T17:53:41+00:00July 24th, 2020|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, Employment, Mortgage Rates, New Home Sales, Texas Real Estate|0 Comments
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Corona Hangover Coming To The North Texas Housing Market

A corona hangover is coming to the North Texas housing market. It's not a question of if, but when. Texas posted a 3rd consecutive daily record yesterday for Covid-19 fatalities, and the 2nd wave of the coronavirus has put the reopening of the Texas economy on hold. The fall opening of schools and universities is becoming more problematic by the day. Anxiety is a now common theme because there are few good choices available when leaders at the Federal and state level have failed us in so many ways. North Texas home sales rebounded sharply [...]

By |2022-08-06T13:36:48+00:00July 10th, 2020|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 Employment, DFW Home Prices, DFW Homes For Sale, DFW New Homes, DFW Real Estate, DFW Relocation, Economy, Employment, Housing Market, Mortgage Rates|2 Comments
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North Texas Housing Market Hit With Two Viruses

The North Texas housing market is being hit with two viruses. The Covid-19 coronavirus and the subsequent lockdowns which halted economic activity resulted in a 26 percent decline in home sales in May. That was the worst annual decline for the Dallas-Fort Worth housing market in a decade. Contrary to the story spun in the area's largest newspaper it wasn't the pandemic that "chased buyers away". The 42 million new unemployment claims and a cliff dive in the stock market were responsible for that. It's difficult to get a mortgage when you are on unemployment, [...]

By |2020-06-15T16:33:21+00:00June 9th, 2020|Denton County Home Prices, Denton County Homes For Sale, Denton County New Homes, Denton County Real Estate, Denton County Relocation, Denton TX Homes For Sale, Denton Tx New Homes, Denton TX Real Estate, DFW Employment, DFW Home Prices, DFW Homes For Sale, DFW New Homes, DFW Real Estate, DFW Relocation, Economy, Housing Market, Mortgage Rates|0 Comments
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Denton County Unemployment Spikes To 12.9% In April

Denton County unemployment hit 12.9 percent in April, and the City of Denton saw unemployment spike to 14.1 percent last month. For the Dallas-Fort Worth-Arlington MSA, unemployment rose to 12.8 percent in April. Those were the sobering statistics from the Texas Workforce Commission. The destruction to the North Texas labor force created by the Covid-19 pandemic and lockdowns is hard to grasp, because the United States hasn't experienced anything similar since the Great Depression. Even after the Great Recession in 2008 U.S. unemployment levels peaked around 10 percent. The May unemployment numbers for Denton County [...]

By |2020-05-26T12:07:41+00:00May 26th, 2020|Denton County Employment, Denton County Relocation, DFW Employment, DFW Relocation, Economy, Employment, Relocation, Texas Employment|0 Comments
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U.S. New Home Sales Fall 9.5% To 627,000 SAAR

The Census Bureau reported new home sales (contracts) for March at a seasonally adjusted annual rate (SAAR) of 627,000. That was 15.4 percent below the revised February rate and down 9.5% from the same time a year ago. As a reminder, the Census counts a new home sale at the time of contract signing, not the actual closing. In the context of the Covid-19 pandemic we actually have a more relevant, forward-looking indicator of new home sales activity, similar to the pending sales metric we would use in the MLS. The median new home sales [...]

By |2020-04-24T11:21:15+00:00April 24th, 2020|Denton County New Homes, Denton County Real Estate, Denton Tx New Homes, Denton TX Real Estate, DFW New Homes, DFW Real Estate, DFW Relocation, Economy, Housing Market, Markets, Mortgages, New Home Sales, Texas Real Estate|0 Comments
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Denton County New Home Prices Fall 12 Percent

Average new home prices in Denton County were 12 percent lower than the same time a year ago. Updated NTREIS Trends figures show a 7.2 percent decline in the median price for a new home in Denton County while average prices of new construction slid 11.7 percent from March of last year. New home prices in the Dallas-Fort Worth area have been on a continued a downward trend since the summer of 2017. The reason in one word...affordability. The trend of the incredible shrinking new home and lot size throughout the DFW area is going [...]

By |2022-08-06T13:38:41+00:00April 18th, 2020|Denton County Home Prices, Denton County New Homes, Denton County Real Estate, Denton Tx Home Prices, Denton Tx New Homes, Denton TX Real Estate, DFW Employment, DFW Home Prices, DFW New Homes, DFW Real Estate, DFW Relocation, Economy, Employment, Housing Market|0 Comments
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North Texas Real Estate Gets Coronafied As Fed Nationalizes Bond Market

North Texas real estate is going to get coronafied, and the coming months will reveal the extent of what looks to be lasting damage for the local real estate market.  The official press release estimates compiled by the A&M RECenter and regurgitated by major media outlets pegged March home sales for a 4 percent increase. It's important to keep in mind these press release numbers are statistical estimates which run off of algorithms accounting for late closings. Sometimes the padding added for late closings or contract activity is overdone, and I believe March is one [...]

By |2020-04-12T13:07:14+00:00April 10th, 2020|Denton County Home Prices, Denton County Homes For Sale, Denton County Real Estate, Denton Tx Home Prices, Denton TX Homes For Sale, Denton TX Real Estate, DFW Home Prices, DFW Homes For Sale, DFW Real Estate, Economy, Employment, Housing Market, Housing Policy, In the Press, Markets, Mortgages, Pending Home Sales, Spin Cycle|0 Comments
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Contracts For North Texas Home Purchases Still Shrinking

I have been monitoring the contracts for home purchases in the North Texas area since last week, and the numbers are not encouraging. The number of active option contract properties (listings where the home has gone under contract with a buyer option to back out) continues to shrink. This is not surprising considering the economic backdrop, but it also points to a more prolonged downturn than many in the real estate industry were expecting. Pending sales data for March will not be pretty, but the April data for North Texas home sales could be an [...]

By |2020-09-22T15:45:59+00:00April 3rd, 2020|Denton County Homes For Sale, Denton County Real Estate, Denton TX Homes For Sale, Denton TX Real Estate, DFW Employment, DFW Homes For Sale, DFW Real Estate, Economy, Employment, Housing Market, Housing Policy, Politics, Relocation, Texas Employment|0 Comments
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Dallas Fed Manufacturing Survey Crashes, Hit To Texas Housing Market Awaits

The Dallas Fed Texas Manufacturing Outlook Survey for March just crashed to the worst levels since the survey began. The production index cratered from 16.4 to negative 35. New orders dropped to negative 41.3, and the growth rate of new orders index fell to negative 44.9. The employment index fell to negative 23.0, and the hours worked index fell to negative 22.4 "The general business activity index plunged from 1.2 to -70.0, and the company outlook index fell from 3.6 to -65.6. Both March readings are the lowest since the survey began in June 2004." [...]

By |2020-03-30T17:10:34+00:00March 30th, 2020|Denton County Real Estate, Denton TX Real Estate, DFW Real Estate, Economy, Housing Market, In the Press, Texas Employment, Texas Real Estate|0 Comments
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