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DFW Housing Market Will Hit The Wall Again

The DFW housing market is reflating on borrowed time, and it will soon hit the wall again. North Texas home sales jumped roughly 8 percent in October, while Dallas-Fort Worth home prices experienced some of the best gains in 2 years.  Pending sales for October were also higher, indicating we'll likely be able to finish out the year on a positive note for the housing market. This may seem like great news for housing market aficionados and the area's largest paper, but things will soon get interesting as the parlor trick of plunging mortgage rates [...]

NAR: Existing Home Sales Up 3.9% In September

The National Association of Realtors reported a 3.9% increase in existing home sales for the month of September. Home sales in the South region were reportedly up 6 percent according to NAR, and this is reflective of what we saw in the North Texas housing market last month. The big year-over-drop in rates pushed both home sales and prices higher last month. According to NAR the median price of an existing U.S. home increased 5.9% in September. The average price of a U.S. home at $308,500 was higher by 4.2%. Months of supply stood at [...]

Low Rates Keep North Texas Home Sales Alive In September

North Texas home sales improved by roughly 7 percent in September, boosted by an extremely favorable year-over-year mortgage rate comparison which kept affordability levels manageable for area home shoppers. Denton County saw a 7 percent improvement in September home closings, while the City of Denton saw home sales fall slightly compared to the same month in 2018. Pending home sales in the Dallas-Fort Worth area improved by 9 percent in September, but not by the magical 12 percent as reported in the area's largest paper. Pending sales activity in Denton County was up double digits, [...]

Denton TX Home Prices Hit New Record, DFW Real Estate Closes Out Strong Summer

Denton Texas hit a new record in August, with average home prices pushing above $284,000 for the month. The average price of a single-family home in Denton TX pushed above $290,000 for the month, eclipsing the previous record set in June. The plunge in mortgage interest rates back to near record lows kept the summer sales momentum going for the local real estate market. Denton County saw home sales rise about 10 percent compared to August of last year, while pending sales look to post a slight gain as well. Flat pricing in Denton County [...]

Diminishing Returns? July New Home Sales Up 4.3%

The Census Bureau reported sales of new single-family homes at a seasonally adjusted annual rate of 635,000 in July. That's up 4.3 percent from July of last year, but down 12.8 percent below the sharply revised June numbers. The median price of a new home contracted in July was $312,800 while the average price of a new home contracted was $388,000, both lower than prices last year. The median new home price for July was $14,700 (about 4.5%) less than July of last year. The supply of new homes stood at 6.4 months in July, [...]

Existing Home Sales Snap 16 Month Losing Streak, Rise 0.6%

The National Association of Realtors reported existing home sales for July at a seasonally adjusted annual rate of 5.42 million. That's 2.5 percent better than last month according to NAR's revised figures, and up 0.6 percent from July of last year. All it took was a complete capitulation by the Federal Reserve on policy normalization and a dramatic 75 basis point drop in mortgage rates. The median price of a home in July was $280,800, up 4.3% from last year. The average price of an existing home sold in July was $317,100, a rise of [...]

Plunging Mortgage Rates Lift Denton County Home Sales In July

Plunging mortgage interest rates lifted Denton County home sales to a near record month in July. Home sales in Denton County posted a 14 percent year-over-year jump on record high average prices. The average price of a home sold in Denton County last month was a record $374,130. The surge in sales during July helped to offset the sales decline in June, and year-to-date sales are now slightly in positive territory. If you read Dallas' largest newspaper, the July rebound in the housing market was all about the strong economy and fabulous jobs market. In [...]

New Home Sales Rise 4.5 Percent In June On Lower Rates

The Census Bureau reported new home sales for June at a seasonally adjusted annual rate of 646,000 units. This was up 7 percent from revised May figures and 4.5 percent higher than a year ago. The previous three months were revised lower. The median price of a new home contracted in June was $310,400, almost unchanged from last year. The average price of a new home in June was $368,600, a decrease of $1500 from June 2018. Months of supply stood at 6.3 in June, up from 6.0 months of supply last year. Translated on [...]

Denton County Home Sales Resume Slide In June Amid Affordability Crunch

Denton County home sales resumed their slide in June amid the continuing affordability crunch. Despite the large drop in mortgage interest rates experienced this year, home sales in Denton County dropped 6 percent compared to the same time last year. This was in line with the 6 percent slide seen throughout the DFW area. The average price of a home in Denton County in June posted at $364,887, a decline of 1 percent from June of 2018. Median home prices in Denton County were unchanged from June of last year, posting at $325,000. The bump [...]

Census: New Home Sales Decline 3.7 Percent In May Despite Lower Mortgage Rates

According to the Census Bureau new home sales for May posted at a seasonally adjusted annual rate of 626,000 units. This was 7.8 percent below revised April numbers and 3.7 percent below the rate seen last year. Despite plunging mortgage interest rates this year, new home sales are not exactly inspiring any headlines. The median price of a new home contracted in May was $308,000 while the average price of a new home stood at $377,200. The inventory of new homes for sale stood at 6.4 months of supply, up from 5.6 months a year [...]