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October New Home Sales Rise On Easy Comparison

On the surface, the Census Bureau's 31.6% year-over-year increase in new home sales for October looks spectacular. To put it in context, however, new home sales are simply responding to the Federal Reserve's market interventions and that spectacular plunge in mortgage interest rates providing a very easy year-over-year comparison. On a monthly basis, new home sales dipped about one percent in October to a seasonally adjusted annual rate of 733,000 units. The longer term view shows new home sales still rising on a steady path out of the abyss. Along with the big drop in [...]

New Home Sales Still Riding Wave Of Lower Interest Rates

The Census Bureau reported new home sales for September at a seasonally adjusted annual rate (SAAR) of 701,000 in September. This was in line with expectations, although the August figure was revised down slightly. The September print for new home sales translates into a 15.5 percent increase from the same time last year. As a reminder, mortgage interest rates were over 100 basis points higher last year. This helped to drive new home contract activity in September. This made for a really easy year-over-year comparison. Another thing that contributed to September sales of new construction [...]

New Home Sales Soar In August, DFW Included

The Census Bureau reported new home sales for August at a seasonally adjusted annual rate (SAAR) of 713,000 for August, This was above expectations and sales for July were revised upward as well. The median price of a new home contracted in August was $328,400, while the average price of a new home shot up to $404,200. Lower rates obviously spurred more borrowers to open up their checkbooks in August. Months of supply for new homes stood at 5.5 in August, down almost 13 percent from the 6.3 months of supply seen last year. As [...]

Denton TX Home Prices Hit New Record, DFW Real Estate Closes Out Strong Summer

Denton Texas hit a new record in August, with average home prices pushing above $284,000 for the month. The average price of a single-family home in Denton TX pushed above $290,000 for the month, eclipsing the previous record set in June. The plunge in mortgage interest rates back to near record lows kept the summer sales momentum going for the local real estate market. Denton County saw home sales rise about 10 percent compared to August of last year, while pending sales look to post a slight gain as well. Flat pricing in Denton County [...]

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, [...]

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 [...]

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 [...]

New Home Sales Jump 7 Percent In April But Momentum Is Fading

The Census Bureau reported new home sales in April which rose 7 percent compared to the same time a year ago. Sales (contract signings) for April posted at a seasonally adjusted annual rate of 673,000 units. This was close to expectations, but interestingly the April figure represented a rather large 7 percent drop from revised March numbers. The sales numbers for the previous three months were revised higher. The median price of a new home rose in April to $342,200, while the average price of a new home contracted in April rose to $393700. This [...]

New Home Sales Improve On Lower Rates, Big Drop In Prices

According to the Census Bureau new home sales for March posted at a seasonally adjusted annual rate of 692,000, a 3 percent increase from the same time last year and 4.5 percent better than February sales numbers. Apparently the big drop in mortgage interest rates continued to provide some lift to the new home market in March. This confirms what we were seeing in the DFW market last month as new home sales outperformed the resale market. The supply of new homes stood at 5.0 months in March, up from 4.5 months a year ago. [...]

Summer Opening Possible For Village Builders Waterbrook In Argyle TX

Village Builders is on schedule for a late fall 2019 opening (updated) for the community of Waterbrook in Argyle Texas. Lennar Corporation acquired the Argyle community of Waterbrook via their recent acquisition of Cal Atlantic Homes. Terra Manna was developing Waterbrook for Cal Atlantic before it was re-branded with Lennar's upscale Village Builders product line. Waterbrook is a 105-acre planned community with approximately 275 residential home sites. 40' 50' and 70' lots will be available ranging in prices from the $300's to the mid $500's. Waterbrook is located at the southeast corner of Highway 377 [...]