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Housing Policy

housing policy

Home Prices Are Falling – Time to Face Reality

North Texas home prices continued to fall in August. The post-pandemic housing bubble in the DFW area continues to deflate. The Fed is actively pushing for a housing reset. After facilitating reckless asset price inflation during the pandemic, taming inflation is now priority number one for the Powell Fed. Powell told us this week they will keep at it until the job is done. Denton County home sales were down 6 percent compared to August of last year. Pending sales slide even further, dropping 12 percent. With rates heading back toward 6 percent, activity and [...]

By |2022-09-15T14:19:47+00:00September 10th, 2022|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, DFW Home Prices, DFW Homes For Sale, DFW Real Estate, DFW Relocation, Economy, Housing Market, Housing Policy, Monetary Policy, Mortgage Rates|0 Comments
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New Home Sales Take a Dive in July – 7.3 Months Supply of New Homes Under Construction

New home sales dropped sharply in July. High prices and dramatically higher mortgage rates have taken their toll on the new construction housing market. The median sales price of new houses sold in July 2022 came in at $439,400. The average sales price was $546,800. That rebound in prices was exactly what the new home market didn't need. New home affordability has been crushed with higher mortgage rates. "Sales of new single‐family houses in July 2022 were at a seasonally adjusted annual rate of 511,000, according to estimates released jointly today by the U.S. Census [...]

By |2022-08-24T17:44:36+00:00August 24th, 2022|Denton County Homes For Sale, Denton County New Homes, Denton County Real Estate, Denton County Relocation, DFW Home Prices, DFW New Homes, DFW Real Estate, DFW Relocation, Housing Market, Housing Policy, Markets, Mortgage Rates, New Home Sales|0 Comments
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North Texas Housing Market – Summer of Denial

The North Texas housing market continued correcting in July. Closed sales were 15 percent lower for the DFW compared to July of last year. Pending contracts also slid lower by a corresponding amount. The median price of a home in the Dallas-Fort Worth market slipped to $389,000, up 16.1 percent year-over-year. Average prices in DFW dropped even more, sliding over $25,000 from the high in June. That may be the high for North Texas home prices for a few years depending on how this cycle plays out. The housing market correction has definitely been noticeable [...]

By |2022-08-10T21:38:28+00:00August 10th, 2022|Denton County Home Prices, Denton County Homes For Rent, Denton County Homes For Sale, Denton County New Homes, Denton County Real Estate, Denton County Relocation, DFW Homes For Lease, DFW Homes For Sale, DFW New Homes, DFW Real Estate, DFW Relocation, Housing Market, Housing Policy, Monetary Policy, Mortgage Rates|0 Comments
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Who Benefits From the Financialization of Housing and Build-to-Rent?

There are countless real estate industry professionals and consultants floating ridiculous narratives regarding single-family rentals and build-to-rent. This is as good a time as any to debunk the "we're filling a need" nonsense. What we're really taking about here is the financialization of housing and the Cantillon Effect. If you are connected to the build-to-rent industry and collect a paycheck from the financialization of single-family housing, okay. No problem with that. Want to ignore the data and look the other way. No problem. It's easy to do. Just don't expect a thinking public with working [...]

By |2022-07-31T16:11:09+00:00July 31st, 2022|Denton County Real Estate, Denton County Relocation, DFW Real Estate, DFW Relocation, Housing Policy, In the Press, Monetary Policy, Politics, Regulation, Spin Cycle|0 Comments
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New Home Prices Drop Sharply as Sales Hit a Wall

The Census Bureau reported new home sales for June at a seasonally adjusted annual rate of 590,000 units. This was below expectations. The three previous months were revised lower as well. New home sales in June were 8.1 percent lower than May and 17.4 percent lower than the same time last year. The median price of a new home dropped to $402,400. The average sales price posted at $456,800. Those were the lowest prices for 2022. Average new home prices just crashed 19.8 percent ($112,500) from the April blow-off top this year according to Census [...]

By |2022-07-28T16:47:39+00:00July 26th, 2022|Denton County Home Prices, Denton County New Homes, Denton County Real Estate, Denton County Relocation, DFW Home Prices, DFW New Homes, DFW Real Estate, DFW Relocation, Housing Policy, Monetary Policy, Mortgage Rates, New Home Sales|0 Comments
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Powell Fires Warning Shot at the Housing Market

This is a rough transcript of Jerome Powell's remarks on housing during this week's post-FOMC press conference. I apologize for any errors. Powell's remarks on housing come around the 1:51 mark toward the end of the press conference. See video below. It appears Jerome has finally figured out housing inflation is a serious headwind to the Fed's efforts to curtail raging inflation. It makes you wonder what they were looking at for the entirety of 2021 when the Powell Fed was pretending inflation was transitory. Question from Bankrate's Mark Hamrick: I Wonder what your assessment [...]

By |2022-06-16T21:18:02+00:00June 16th, 2022|Denton County Home Prices, Denton County Real Estate, Denton TX Real Estate, DFW Home Prices, DFW Real Estate, Housing Policy, Monetary Policy, Mortgage Rates, Politics, Real Estate, Spin Cycle|0 Comments
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7 Tips for North Texas Home Sellers as the Housing Bubble Pops

Here are 7 tips for North Texas home sellers as the DFW housing bubble pops. The bond markets made another seismic shift last week with big implications for the housing market and home sellers. Mortgage interest rates are now close to six percent, and inventory is climbing quickly. Home sellers need to be aware of the huge shift in the housing market as the Fed normalizes policy. Tip # 1 – Acknowledge the bubble for what it is There are countless “experts” in the mortgage and real estate space who completely missed the tectonic shift [...]

By |2022-06-12T14:03:09+00:00June 12th, 2022|Denton County Home Prices, Denton County Real Estate, Denton County Relocation, DFW Home Prices, DFW Homes For Sale, DFW Real Estate, DFW Relocation, Housing Market, Housing Policy, Markets, Monetary Policy|0 Comments
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Denton County Housing Bubble Begins To Pop

Denton County's pandemic-induced housing bubble is finally beginning to pop. The summer selling season has been met with rampant price chopping. Sellers are hitting the market and finding some big air pockets. My what a difference a few months can make! Home inventory continues to rise off the lows earlier this year. That has caught a number of home sellers and agents completely off guard. It shouldn't have. As I have been detailing for months, this shift and the coming correction were baked in the cake. What's amazing is that so many "experts" continue to [...]

By |2022-06-12T10:52:33+00:00June 10th, 2022|Denton County Home Prices, Denton County Homes For Rent, Denton County Homes For Sale, Denton County Property Taxes, Denton County Real Estate, Denton County Relocation, DFW Home Prices, DFW Homes For Sale, DFW Real Estate, DFW Relocation, Housing Market, Housing Policy, Markets, Monetary Policy, Mortgage Rates, New Home Sales, Real Estate, Spin Cycle|0 Comments
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Denton County Home Buyers Front-Run Rate Hikes Sending Prices Soaring

Fear of missing out (FOMO) was the theme last month in Denton County Texas as home buyers behaved like irrational humans often do. Buyers jumped into the local housing market front-running the coming Federal Reserve rate hikes. Home prices shattered records as a result. The median price of home rose 25.3% year-over-year to a record $464,000. Average prices rose 23.6% to a record high $554,098. Closed sales were roughly flat compared to last year. That's a testament to how frenzied the activity was given the current backdrop of spiraling interest rates. Pending sales (contracts) fell 10 [...]

By |2022-04-14T14:54:28+00:00April 12th, 2022|Denton County Home Prices, Denton County Homes For Rent, 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 Lease, DFW Homes For Sale, DFW Real Estate, DFW Relocation, Housing Market, Housing Policy, Monetary Policy, Mortgage Rates|0 Comments
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Mortgage Rates Breach 5% Mark After Brainard Speech

U.S. mortgage rates breached the critical 5 percent level today. Prepared remarks from FOMC dove Lael Brainard spooked the markets into a tailspin sending yields on the 10-year Treasury above 2.56 percent. Average mortgage interest rates quoted from Mortgage News Daily spiked to 5.02 percent. This is the first time rates have been this high since 2018. You may remember that the fourth quarter of 2018 also saw the stock market and real estate markets come unglued before the Fed stepped in to intervene. Unfortunately for real estate bulls, this time is different. Instead of [...]

By |2022-04-06T11:47:53+00:00April 5th, 2022|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, Monetary Policy, Mortgage Rates|0 Comments
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