Housing Market

Texas housing market news

Denton County Home Sales Continue Sliding In October

Denton County Texas home sales continued to slide in October as the real estate market softened throughout the Dallas-Fort Worth area. Closed sales in Denton County fell roughly 8 percent for the month of October compared to last year. This is slightly worse than the 6% sales decline for the Dallas-Fort Worth metro area. Pending single-family home sales in the Denton County area were down about 14 percent for the month of October as the stock market swoon also hit the local housing sector. The official statistical estimate of a 9 percent pending sales decline [...]

High End Dallas-Fort Worth Real Estate Could Get Crushed

As I detailed yesterday, the Dallas-Fort Worth real estate market fell out of bed last month. With pending home sales registered to post some of the worst numbers in years and inventory marching higher across the Dallas Fort Worth area, it is painfully clear that that the real economy in the DFW area is more fragile than the sell-side pundits would have us believe. I'm not surprised, because I cover the hype and spin in the real estate sector regularly on this blog. In a recent interview with Bloomberg, 'Black Swan' author Nassim Taleb specifically [...]

October Swoon Suggests Denton County Real Estate Market Correction Just Getting Started

Denton County's real estate market is going to post some very soft numbers again for October. Both closed and pending home sales are going to be down year-over-year while pending home sales are likely going to post a double-digit decline not just in Denton County, but for the entire Dallas-Fort Worth housing market. OUCH! Available home inventory is shooting higher across the DFW area. While notable economists at the Federal Reserve, local real estate "professionals" and even the "experts" at the RECenter at Texas A&M have been dismissing recent developments as just a cooling off [...]

Denton County Ranks 3rd In Nation For Inbound Migration, Relocation

Denton County Texas ranks as the 3rd most popular destination in the United States according to a recent study from RentCafe on inbound and outbound migration during the past 5 years. Denton was behind only Maricopa County in Arizona and Clark County in Nevada. Not surprisingly, Texas is home to 5 of the 10 most popular inbound destinations. Denton County's net migration gain of 96,000 during the last 5 years is 10,000 more than neighboring Collin County which also made the top 10, posting at number 6. People in Las Angeles, Chicago, New York, Miami [...]

Existing Home Sales Lowest In 3 Years With 4.1% September Drop

The National Association of Realtors reported the lowest levels for existing U.S. home sales in 3 years. Sales of existing homes posted at a seasonally adjusted annual rate of 5,115,000 for September, down from August numbers which were also revised lower. The year-over-year decline in existing home sales of 4.1 percent puts sales levels back to where they were three years ago. Existing home inventory at 1.88 million homes was up slightly from last year's 1.86 million units. NAR's chief economist, Lawrence Yun, indicated that "higher interest rates have led to a decline in sales [...]

LGI Homes’ Beaver Creek In Denton TX A Haven For Wall Street Landlord

The quiet little community of Beaver Creek on the north side of Denton Texas offers a perfect portrait of what's wrong with the current housing market in the United states. Beaver Creek is an LGI Homes community that specializes in affordable starter homes priced in the mid to upper $200's. Having viewed the community earlier this year, I was interested to see how sales would progress since Denton Texas is a popular destination for DFW home shoppers looking for affordable homes. Denton home prices are generally more affordable than the average prices in the Dallas-Fort [...]

Hoisington Q3 Update – Deflationary Wave Of Debt Will Stifle Yields

The deflationary wave of debt growing within multiple facets of the U.S. economy will stifle yields. That's the gist of Van Hoisington and Lacy Hunt's latest third quarter Review and Outlook. As the market was puking on the latest surge in Treasury yields above 3%, I couldn't help but notice that the publicly traded homebuilders were getting crushed yet again. With the Freddie Mac 30-year mortgage rate touching 4.9 percent this week (levels not seen in 7 years), things were getting even uglier for the housing sector. There was nowhere to hide this week if [...]

Denton County Home Sales See Big September Decline

Denton County home sales saw a big September decline as Dallas-Fort Worth experienced the sharpest home sales drop in seven years according to the latest NTREIS data. The latest press release on September home sales show a statistically estimated 7 percent drop in total single-family home sales in North Texas during the month of September. Pending sales show to be down 6% year-over-year. The median price of a North Texas single-family home was $251,000 in September, a gain of 4%. The average price of a single-family home stood at $304,331, an increase of 6%. Single-family [...]

Yield Surge Hits Already Beaten Down Homebuilder Stocks

The yield surge experienced this week certainly took its toll on homebuilder stocks. As the yield on the benchmark U.S.  10 -Year Treasury eclipsed 3.2 percent this week, you could hear the air coming out of the publicly traded homebuilder sector. The Dow Jones U.S. Home Construction Index was down 27% as of yesterday's close. The year-to-date declines in the stocks of publicly traded homebuilders certainly don't echo the "remarkably positive" economic circumstances that Fed chair Jerome Powell was playing up this week. I can only assume he was referring to the Wall Street bonus [...]

10 Years After The Housing Crash, Dallas-Fort Worth Experiencing Consequences Of Policy Failures

10 years after the housing crash and the Great Recession that nearly brought the world economy to its knees, the adults in the room are still pretending that everything is normal. If you read the Dallas Morning News and the spin of many professional economists, the DFW real estate market has emerged from the wreckage 10 years ago relatively unscathed. With DFW home prices at record highs, most housing pundits are eager to suggest everything is awesome. Apparently the recent rise in home inventories is just blip in an otherwise normalization of the formerly red [...]

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