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Texas housing market news

D.R. Horton New Home Orders Miss Expectations With Average Prices At 5-Year Low

Arlington-based D.R. Horton posted some mixed fiscal first quarter results today with the DFW homebuilder missing profit and sales order expectations. D.R. saw rising sales and revenue for the quarter, but even with a huge tax expense reduction and 4.1 million shares repurchased by the company, things didn't quite work out as well as the company might have anticipated. D.R. Horton closed 7 percent more homes in the latest quarter, 11,500, but net sales orders for the period ending in December rose only 3 percent to 11042 homes. That D.R. Horton was able to achieve [...]

By |2019-01-25T19:58:26+00:00January 25th, 2019|Denton County Real Estate, Denton TX Real Estate, DFW New Homes, DFW Real Estate, Economy, Housing Market, In the Press, Mortgage Rates, New Home Sales, Spin Cycle, Texas Real Estate|0 Comments
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NAR: Existing Home Sales Dropped 10.3% In December

Yesterday the National Association of Realtors told us existing home sales in the U.S. were down 10.3 percent compared to the same time a year ago. NAR's chief economist, Lawrence Yun, blamed the rise in mortgage rates. "The housing market is obviously very sensitive to mortgage rates. Softer sales in December reflected consumer search processes and contract signing activity in previous months when mortgage rates were higher than today. Now, with mortgage rates lower, some revival in home sales is expected going into spring." Yun is correct to a point, but still missing the bigger [...]

By |2019-04-12T16:16:26+00:00January 23rd, 2019|Denton County Homes For Sale, Denton County Real Estate, Denton TX Homes For Sale, Denton TX Real Estate, DFW Homes For Sale, DFW Real Estate, Existing Home Sales, Housing Market, In the Press, Mortgage Rates|0 Comments
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Denton County Home Sales Continued Sliding In December

Denton County home sales continued their slide in December as the Dallas-Fort Worth real estate market saw a 5th consecutive month of year-over-year declining sales activity. Denton County experienced an 11 percent decline in closed home sales along with a corresponding 11 percent decline in pending home sales activity. The drop in forward-looking contract activity suggests that a spring housing rebound may be a tough proposition. Home prices were still rising in many DFW submarkets in December, including Denton Texas where the average price of a home rose 11 percent to $274,012. Looking at a [...]

By |2021-07-05T13:46:50+00:00January 9th, 2019|Denton County Home Prices, 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, Housing Policy, In the Press, Markets, Mortgage Rates, Relocation|0 Comments
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Hyper-Financialized DFW Housing Market Will Get Worse

The National Association of Realtors reported pending home sales for November slid 7.7 percent compared to a year ago. Of course the headline you probably saw in the media was the 0.7 percent drop compared to October's decline in contract signings. With the stock market poised to finish one of the worst Decembers in recent memory, you can rest assured the hyper-financialized Dallas-Fort Worth housing market is going to get worse before it fully recovers. Chief economist, Lawrence Yun, attempted to diffuse concerns about sliding sales numbers in November in NAR's latest press release, but [...]

By |2019-10-24T22:05:01+00:00December 29th, 2018|Denton TX Real Estate, DFW Home Prices, DFW Real Estate, Economy, Housing Market, Housing Policy, In the Press, Mortgage Rates, Pending Home Sales, Spin Cycle|1 Comment
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Powell Continues FOMC’s Legacy Of Serial Arsonists

The Federal Reserve FOMC announced another Federal Funds rate hike, raising the target rate to 2.5 percent. That was widely anticipated. What the market did not like was a less-than dovish stance from Jerome Powell and his merry band of serial arsonists, as he stuck to the script that everything is awesome in the land of milk and honey. Aside from the drop in 10-year Treasury yields, there are important ramifications for the real estate market as the failures of Federal Reserve policy, and the consequences that come with it, become increasingly evident. Make no [...]

By |2018-12-20T21:07:52+00:00December 20th, 2018|Denton County Real Estate, Denton TX Real Estate, DFW Home Prices, DFW Real Estate, Economy, Education, Housing Market, Housing Policy|0 Comments
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U.S. Existing Home Sales Down Seven Percent In November

The National Association of Realtors reported existing home sales for November at a seasonally adjusted annual rate (SAAR) of 5.32 million. This was up slightly from October but still down seven percent compared to the same time last year. The spike in mortgage interest rates was still lingering over the real estate market in November. The median price of an existing home sold in November was $257,700 in November, a rise of 4.2 percent year-over-year and the 81st consecutive month of year-over-year home price increases. The average price of an existing home sold in November [...]

By |2018-12-20T09:54:54+00:00December 19th, 2018|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, Housing Policy, In the Press, Markets, Mortgage Rates|0 Comments
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Denton County Home Prices Drop As DFW Sees Worst Sales In 7 Years

Denton County home prices slid 2 percent in November as the DFW housing market experienced the worst sales decline in 7 years. The good news is that the sales volume estimates in the official press releases are now more reflective of reality. The bad news is that actual home sales in Dallas-Fort Worth are still rather soft. Home sales in Denton County dropped 9 percent in November, in line with the 8 percent decline seen for DFW. Pending home sales in Denton County slid 3 percent compared to the same time a year ago, slightly [...]

By |2018-12-13T00:29:48+00:00December 11th, 2018|Denton County Home Prices, Denton County Real Estate, Denton Tx Home Prices, Denton TX Real Estate, DFW Home Prices, DFW Real Estate, Housing Market, In the Press, Mortgage Rates, Relocation, Texas Real Estate|0 Comments
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October New Home Sales Collapse, Near Three-Year Low

The Census Bureau numbers for October new home sales posted at a seasonally adjusted annual rate (SAAR) of 544,000 units. This was way below expectations of a 575,000 print, and near a three-year low. As I have been detailing for much of the year, much of that "pent-up demand" that you hear real estate industry mouthpieces talking about is a giant work of fiction, a tired marketing ploy that the media, economists and Realtors have been using in attempt to justify grossly inflated home prices across the U.S. Well, it appears the cat is officially [...]

By |2022-01-05T03:36:33+00:00November 28th, 2018|Denton County New Homes, Denton County Real Estate, Denton Tx New Homes, Denton TX Real Estate, DFW New Homes, DFW Real Estate, Housing Market, Housing Policy, Mortgage Rates, New Home Sales, Politics, Texas Real Estate|2 Comments
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Higher Prices, Shrinking Homes – Denton County’s New Underwater Borrowers Found In HUD Annual Report

The Department of Housing and Urban Development's Fiscal Year 2018 report to Congress is filled with useful information on the state of the U.S. mortgage market. Contained within the 2018 annual report we can see where the latest crop of underwater borrowers are hiding in Denton County Texas. As the size of new homes continues to shrink, particularly for entry-level buyers, prices increases have begun to moderate or even decline in many areas. This poses a big problem for unsuspecting home buyers who have been roped into the housing market at the cycle peak with [...]

By |2018-11-28T01:29:11+00:00November 27th, 2018|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 Real Estate, Housing Market, Mortgage Rates, Mortgages, New Home Sales, Relocation|0 Comments
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High Prices, Higher Rates Stall Dallas Fort Worth New Home Market

High prices and higher rates are hammering the Dallas-Fort Worth new home market. Starts from new home builders are now expected to increase by only a few hundred homes next year. I am not surprised. I covered this development a few days ago in my post on DR Horton's fourth quarter results, but a recent piece in the Dallas Morning News citing an industry insider/expert highlights the failure of local media to report on what is actually happening. My October housing market report for the DFW area explains why the correction in the local real estate [...]

By |2018-11-11T13:25:58+00:00November 11th, 2018|Dallas Tx Home Prices, Denton County Home Prices, Denton County New Homes, Denton County Real Estate, Denton Tx New Homes, Denton TX Real Estate, Development, DFW Home Prices, DFW New Homes, DFW Real Estate, Economy, Housing Market, Mortgage Rates, New Home Sales, Spin Cycle, Video|0 Comments
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