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Texas housing market news

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, [...]

By |2019-08-23T16:00:16+00:00August 23rd, 2019|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 Home Prices, DFW New Homes, DFW Real Estate, Housing Market, Mortgage Rates, New Home Sales|0 Comments
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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 [...]

By |2019-08-21T18:59:02+00:00August 21st, 2019|Denton County Home Prices, Denton County Real Estate, Denton Tx Home Prices, Denton TX Real Estate, DFW Home Prices, DFW Real Estate, Existing Home Sales, Housing Market|0 Comments
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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 [...]

By |2019-08-19T02:35:46+00:00August 10th, 2019|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 Homes For Sale, DFW New Homes, DFW Real Estate, Housing Market, In the Press, Mortgage Rates, Relocation, Texas Real Estate|0 Comments
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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 [...]

By |2019-07-24T17:12:05+00:00July 24th, 2019|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 New Homes, DFW Real Estate, DFW Relocation, Housing Market, Mortgage Rates, New Home Sales, Real Estate, Texas Real Estate|0 Comments
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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 [...]

By |2019-07-16T15:14:49+00:00July 10th, 2019|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, Housing Market, Mortgage Rates, Relocation, Texas Real Estate|0 Comments
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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 [...]

By |2019-06-25T16:20:56+00:00June 25th, 2019|Denton County New Homes, Denton County Real Estate, Denton Tx New Homes, Denton TX Real Estate, DFW New Homes, DFW Real Estate, Housing Market, Mortgage Rates, New Home Sales|0 Comments
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Single-Family Housing Permits & Starts Still Stagnating

The Census Bureau reported permits and starts numbers for May which were less than impressive. While permits were up from revised April figures, they were still lower than levels seen last year. Single-family permits (one unit structures) were down 3.3 percent from the same time a year ago. The sluggish numbers for housing permits and starts in May is a bit surprising to some of the experts considering the recent plunge in mortgage interest rates. Unfortunately there is more to the demand for new homes than just ultra low interest rates. Housing starts in May [...]

By |2019-06-18T16:46:46+00:00June 18th, 2019|Denton County New Homes, Denton Tx New Homes, DFW New Homes, Economy, Housing Market, Mortgage Rates, Texas Real Estate|0 Comments
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Denton County Employment Growth Still Solid, Why Are Home Sales Stagnating?

Denton County employment growth is still humming along. The Dallas-Fort Worth area continues to add jobs. Even with the job growth, home price gains in the DFW area continue to slow. This is confirmed in the recent numbers from Case-Shiller. Along with many professional PhD economists, the Case-Shiller committee seems to be puzzled that the housing market isn't firing on all cylinders given the recent plunge in mortgage interest rates. "Given the broader economic picture, housing should be doing better." Even Freddie Mac's deputy chief economist seems to be perplexed that the housing market isn't [...]

By |2020-03-28T14:39:06+00:00May 31st, 2019|Dallas Tx Employment, Denton County Employment, Denton County Relocation, DFW Employment, DFW Real Estate, DFW Relocation, Economy, Education, Housing Market, In the Press, Mortgage Rates, Pending Home Sales, Politics, Relocation, Texas Real Estate|0 Comments
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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 [...]

By |2020-03-28T14:39:58+00:00May 16th, 2019|Denton County New Homes, Denton County Real Estate, Denton Tx New Homes, Denton TX Real Estate, DFW New Homes, DFW Real Estate, Economy, Housing Market, Housing Policy, Mortgage Rates, Spin Cycle, Texas Real Estate|0 Comments
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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 [...]

By |2019-04-10T11:25:38+00:00April 10th, 2019|Denton County Home Prices, Denton County Homes For Sale, Denton County Real Estate, Denton County Relocation, Denton Tx Home Prices, Denton TX Homes For Sale, Denton TX Real Estate, DFW Home Prices, DFW Homes For Sale, DFW Real Estate, DFW Relocation, Housing Market, Mortgage Rates, Texas Real Estate|0 Comments
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