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Monetary Policy

New Home Sales Fall as Rising Rates Temper Demand

New home sales fell in January to a seasonally adjusted annual rate (SAAR) of 801,000 units. The previous three months were revised higher. Census Bureau estimates put new home sales 4.5 percent below the revised December numbers. New home sales were 19.3 percent lower than January of last year. The median price of a new home contracted in January was $423,300. The average sales price of a new home posted at $496,900. That was a new all-time high. Median and average new home prices both hit new record highs in North Texas in January. On [...]

By |2022-02-25T12:37:03+00:00February 24th, 2022|Denton County New Homes, Denton County Real Estate, Denton County Relocation, Denton Tx New Homes, Denton TX Real Estate, DFW New Homes, DFW Real Estate, DFW Relocation, Economy, Housing Market, Housing Policy, Monetary Policy, Mortgage Rates|0 Comments
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North Texas Housing Market Correction Taking Shape

A housing market correction is coming to North Texas. Don't say you weren't warned. The data points have been piling up for months. The only question remaining is how this all plays out, or more specifically how much pain the Fed is willing to tolerate. Inflation Rages Today's headline print for CPI inflation came in at a red-hot 7.5%. Despite many experts' assumptions that inflation would be moderating, core inflation has actually been increasing in each of the last three month's readings from the Bureau of Labor Statistics. Jerome Powell and the FOMC decided to [...]

By |2022-02-17T16:37:36+00:00February 10th, 2022|Denton County Home Prices, Denton County Homes For Rent, Denton County Homes For Sale, Denton County New Homes, Denton County Property Taxes, Denton County Real Estate, Denton County Relocation, Denton Tx Home Prices, Denton TX Homes For Sale, Denton Tx New Homes, Denton TX Property Taxes, Denton TX Real Estate, DFW Home Prices, DFW Homes For Sale, DFW New Homes, DFW Real Estate, DFW Relocation, Economy, Housing Market, Monetary Policy, Mortgage Rates|0 Comments
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New Home Sales Rise in December, But Headwinds Mounting

New home sales were a bit better than expected in December. The Census Bureau reported new home sales at a seasonally adjusted annual rate (SAAR) of 811,000 units. Previous months were revised lower. The median price of new home came in at $377,700. The average price of new construction contracted in December was $457,300. New home sales are still suffering from supply constraints. Completed inventory remains very low while the number of units technically for sale remains very high. Looking at unadjusted numbers out of the 408,000 homes "for sale" at the end of December [...]

By |2022-01-26T23:54:42+00:00January 26th, 2022|Denton County New Homes, Denton County Real Estate, Denton County Relocation, Denton Tx New Homes, Denton TX Real Estate, DFW New Homes, DFW Real Estate, DFW Relocation, Housing Market, Monetary Policy, New Home Sales, Politics, Spin Cycle|1 Comment
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North Texas Real Estate Shatters Records, Before The Fed Pulls the Rug

North Texas real estate shattered a number of records as we closed out the year. December saw record home prices in December as the Federal Reserve continued to pump asset prices. Available home inventory in the Dallas-Fort Worth area dipped to new record lows. Investors, speculators and other home buyers were busy fighting over the dwindling pool of properties available for for sale. The number of homes for sale in North Texas slipped to roughly 11,400 in December. There would be about 30,000 homes for sale in the DFW area under normal conditions. At the [...]

By |2022-01-22T12:47:35+00:00January 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 Tx Home Prices, Denton TX Homes For Sale, Denton TX Real Estate, DFW Home Prices, DFW Homes For Lease, DFW Homes For Sale, DFW New Homes, DFW Real Estate, DFW Relocation, Economy, Housing Market, Monetary Policy, Mortgage Rates|0 Comments
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October New Home Sales Below Expectations

New home sales came in lighter than expected for October. The previous three months were also revised lower. Census numbers showed October new home sales at a seasonally adjusted annual rate (SAAR) of 745,000 units. Months of supply rose slightly to 6.3, but up 80 percent from last year. If supply is so abundant, why aren't new homes selling like hotcakes? The answer lies in the real unadjusted data. The Census Bureau puts a lot of seasonally adjusted optimism into their figures. Headline Census estimates for new home sales get repeated by major media all [...]

By |2021-11-28T12:20:44+00:00November 27th, 2021|Denton County Home Prices, Denton County Homes For Sale, Denton County New Homes, Denton County Real Estate, Denton County Relocation, DFW New Homes, DFW Real Estate, DFW Relocation, Housing Market, Monetary Policy, Mortgage Rates, New Home Sales|0 Comments
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Zillow Puts the Brakes on Cash Offers for Remainder of Year

Zillow has hit the pause button on buying homes in the U.S. Zillow reportedly has halted cash purchases of homes through the remainder of the year. Citing labor and supply shortages, the company says it just can't keep up with demand as it works through a backlog of homes it has to close on, renovate and sell. Zillow's chief operating officer phrased it like this. “We’re operating within a labor-and supply-constrained economy inside a competitive real estate market, especially in the construction, renovation and closing spaces.” Interestingly, other iBuyers like Opendoor, Offerpad and Redfin have [...]

By |2021-10-19T15:04:33+00:00October 19th, 2021|Denton County Home Prices, Denton County Real Estate, Denton County Relocation, DFW Home Prices, DFW Real Estate, DFW Relocation, Economy, Housing Market, In the Press, Monetary Policy, Spin Cycle|0 Comments
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North Texas Home Sales Continue To Soften

North Texas home sales continue to soften. September sales data reflect a 9 percent slide in closings in Denton County. The DFW area experienced a 5 percent slide in home sales last month according to NTREIS Trends data. Pending sales in Denton County were flat to just slightly negative last month. The broader Dallas-Fort Worth area saw a 3 percent decline in September sales contracts. With the Federal Reserve expected to announce a taper of their huge asset purchase program ($120 billion per month) things have been a little wobbly in the markets. After marching [...]

By |2021-10-10T16:47:17+00:00October 10th, 2021|Denton County Home Prices, Denton County Homes For Sale, Denton County New Homes, Denton County Real Estate, Denton County Relocation, DFW Home Prices, DFW Homes For Sale, DFW New Homes, DFW Real Estate, DFW Relocation, Economy, Housing Market, Markets, Monetary Policy, Mortgage Rates|0 Comments
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Robert Kaplan Takes Early Retirement From Dallas Fed Amid Trading Scandal

The Dallas Fed's Robert Kaplan and Boston Fed chief Eric Rosengren announced they will be taking early retirement. Revelations of dubious trading activity by various Fed officials have weighed heavily on the credibility of the Federal Reserve in recent weeks. It's about time! It's not like the Fed had much credibility left to salvage. FOMC officials have demonstrated time and time again they have no shame. The internet was quick to chime in on the news of Kaplan and Rosengren's early retirement, but the best take of all has to be from Pam & Russ [...]

By |2021-09-28T10:03:20+00:00September 28th, 2021|Denton County Real Estate, Education, In the Press, Monetary Policy, Politics, Regulation, Spin Cycle|1 Comment
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New Home Sales Rise Slightly In August to 740,000 SAAR

New home sales for August posted at a seasonally adjusted annual rate (SAAR) of 740,000 units. That was slightly better than expectations. New home sales were 1.5 percent higher for the month, but still down 24.3 percent from August of last year. The median price of a new home in August was $390,900. The average price checked in at $443,200. Census figures showed 6.1 months of new home inventory. Unadjusted figures show 6.2 months of supply. Anyone shopping for a new home understands those headline figures are complete bullocks. Looking into the composition of new [...]

By |2021-09-24T20:14:55+00:00September 24th, 2021|Denton County Real Estate, Denton County Relocation, Denton Tx Home Prices, Denton Tx New Homes, Denton TX Real Estate, DFW Home Prices, DFW New Homes, DFW Real Estate, DFW Relocation, Housing Market, Housing Policy, Monetary Policy, Mortgage Rates, New Home Sales|0 Comments
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Average Denton County Home Costs More Than Half a Million

Denton County home prices shattered records last month. The median price of a home in the area hit $410,000, up 22.4 percent from the same time a year ago. The average price of a Denton County home hit $506,957, shattering the previous high set in June. The new average home price above half a $million was 29.7 percent higher than August of 2020. Average prices for new construction and resale properties hit new records last month as inventory remained in the basement. The number of homes available for sale in Denton County dipped slightly from [...]

By |2021-09-18T20:45:40+00:00September 10th, 2021|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 Real Estate, DFW Real Estate, DFW Relocation, Economy, Housing Market, In the Press, Markets, Monetary Policy, Mortgage Rates, Regulation, Spin Cycle|0 Comments
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