Housing Market

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Texas housing market news

Home Builder Confidence Not Confirmed By Housing Starts & Permits Data

This week the National Association of Home Builders reported improved confidence and business conditions among new home builders. With the big drop in mortgage interest rates, builders have been enjoying solid sales so far in 2019. NAHB chairman, Greg Ugalde, even said as much... “Builders are busy catching up after a wet winter and many characterize sales as solid, driven by improved demand and ongoing low overall supply...However, affordability challenges persist and remain a big impediment to stronger sales.” With mortgage rates just above 4 percent, the year-over-year interest rate comparisons are very favorable for [...]

Denton County Home Sales See March Revival

Denton County home sales experienced a spring revival in March as plunging mortgage interest rates helped to offset continued affordability constraints. Home sales jumped 5 percent in the area while pending sales edged 6 percent higher for the month. The big decline in mortgage rates boosted home sales activity. Average home prices in Denton County also edged higher in March, rising almost 2 percent compared to March of last year to nearly $365,000. New home sales in the Denton area experienced the biggest boost from the recent interest rate swan dive. Sales of existing single-family [...]

Denton County New Home Sales Spring To Life In March

Denton County new home sales are enjoying a spring revival courtesy of lower mortgage interest rates. Preliminary March data for North Texas shows that home sales rebounded in March, with new home sales driving the action. Buyers were obviously lured off the fence in the DFW area when it came to buying new homes. It also helped that new home builders were keeping price points lower. The average price of new homes in Dallas-Fort Worth still shows to be softening. Pending sales data for March looks a bit weaker than closings, so it will be [...]

Denton County Real Estate Market Gets Lift From Crashing Yields, Lower Rates

The Denton County real estate market is getting a much-needed lift going into the spring selling season. That lift is coming courtesy of crashing bond yields and a drop in mortgage interest rates. Lower interest rates were desperately needed to stimulate a stagnating housing market. The Freddie Mac Primary Mortgage Market Survey confirmed today what many have been expecting.... a continued drop in mortgage rates. Freddie Mac's index just posted the biggest one-week drop in a decade. If the economy continues to slow, 3 percent mortgage rates could be in play again. That could be [...]

Lower Mortgage Rates Fuel February Rebound In Denton County Real Estate Market

Lower mortgage interest rates and a sharp rebound in the stock market helped fuel a rebound in the Denton County real estate market in February. Closed home sales declined 4 percent year-over-year, improving from poor January figures. Average home prices in Denton County rose 2.4 percent compared to February of last year. Pending home sales for February actually moved into positive territory rising 6 percent for the month. The increase in contract signings indicates that buyers were enticed by dramatically higher inventory levels and the improvement in mortgage interest rates. New home sales in particular, [...]

Denton County TX New Home Sales Rebound With Lower Rates

New home sales in Denton County rebounded in February as lower rates helped to push some prospective buyers off the fence. New home prices in the Denton area are still a bit sluggish as the shift toward more affordable new home inventory continues so far in 2019. This can be seen in the lower average new home prices and stagnant price per square foot.  So far at least, new home buyers in the Denton area are willing to sacrifice some space in order to keep overall prices down. New home builders are trying to match [...]

Want To Sell Your Denton County Home? Time To Get Real

Denton County home sellers are experiencing a different real estate market in 2019. It's the type of market some people probably remember, but one they haven't experienced for a number of years as the Federal Reserve and other global banks jawboned markets higher and fueled a speculative frenzy in global real estate. Average days on market continued to rise in February. Even though sales activity rebounded a bit last month, the Denton County housing market correction that started during the last half of 2018 is still taking shape. While many housing pundits and professional economists [...]

Shadow Bank Lending, Rising Debt To Income Ratios Fueling Denton County Home Price Growth

Shadow banks, or nonbanks as they are often called, continue to dominate the mortgage space in the real estate echo bubble. This is the case in Denton County Texas and all across the country. Since 2008 the share of mortgage originations by nonbanks has more than doubled, rising from 24% in 2008 to 54% in 0217. The share of mortgages issued by traditional large banks continue to decline. As home prices rose throughout Denton County, the quality of the mortgages originated during this boom began deteriorating. Last year the deterioration in mortgage quality was pronounced. [...]

Case-Shiller: Dallas Home Prices Continue To Cool In December

The S&P/Case-Shiller home prices indices for December showed that Dallas home prices continued to cool in December. While the national index for home prices was 4.7 percent higher, Dallas trailed at an annual growth rate of 3.9 percent. The index for Dallas home prices was essentially flat for the sixth consecutive month. Among the major cities in the 20-city index, Las Vegas, Phoenix and Atlanta showed the highest yearly gains in December, with increases of 11.4%, 8.0% and 5.9% respectively. San Diego and DC showed the smallest increases, registering price gains of 2.3% and 2.7%. [...]

Zillow Offers Coming To Dallas, Company Losses Widen

Zillow Offers are reportedly coming to the Dallas market sometime in 2019. The internet giant/real estate portal will reportedly be expanding its Zillow Offers iBuyer program to sellers in the DFW market sometime this year. Zillow's version of the cash offer buy-your-home-at-a-discount service is already operational in several markets including Phoenix, Vegas, Atlanta, Denver and Charlotte. Zillow reportedly has some lofty plans for their iBuyer program according to their latest investor presentation and earnings release. After posting a full-year loss of more than $119 million for 2018, Zillow founder, Rich Barton, is returning as CEO [...]