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Real Estate

New Home Sales Improve Slightly With Lower Prices

New home sales improved in May...with some significantly lower prices. The Census Bureau reported new home sales for May at a seasonally adjusted annual rate (SAAR) of 696,000 units. That was better than revised April numbers, but 5.9 percent lower than a year ago. The median sales price of a new house sold in May 2022 was $449,000. The average sales price was $511,400. That's a $58,100 drop from the average price in April. The seasonally adjusted months of inventory stood at 7.7 months of supply. It is worth noting that the supply of homes [...]

By |2022-06-25T15:46:12+00:00June 25th, 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 Market, Monetary Policy, Mortgage Rates, New Home Sales, Real Estate, Spin Cycle|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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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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New Home Sales Begin Slide As Interest Rates Rise

New home sales are beginning to slide as rising rates clamp down on the housing market euphoria. The Census Bureau reported February new home sales at a seasonally adjusted annual rate (SAAR) of 772,000 units. That's a 2 percent slide from January and down 6.2 percent from last year. The unadjusted February sales estimate shows 65,000 new homes sold. That translates to a 7 percent slide year-over-year. The median price of a new home came in at $400,600. The average price posted at $511,000, a new record high for the series. It's interesting to note [...]

By |2022-03-23T18:47:44+00:00March 23rd, 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, Economy, Mortgage Rates, Real Estate|0 Comments
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Media Narrative on Housing Shortage is Comically Absurd

The current media narrative on the U.S. housing shortage is comically absurd misdirection. Numerous experts in the industry continue to float the same tired narratives and misdirection while media mouthpieces nod in agreement. It's truly sad to watch. News segments offering up explanations of our housing affordability crisis look more like industry infomercials. According the Wall Street arm of the housing industry renting is the new American dream. Wall Street predators are just filling the gap, providing much-needed housing in a time of need. Just a few days ago our local CBS affiliate ran this [...]

By |2022-03-22T01:23:54+00:00March 21st, 2022|Denton County Real Estate, DFW Real Estate, Education, Housing Policy, In the Press, Monetary Policy, Politics, Real Estate, Spin Cycle|0 Comments
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Collateral Damage Coming to the North Texas Housing Market

Collateral damage in the North Texas housing market is beginning to reveal itself. Inflation is at a fresh 40-year high. Homes have never been more expensive, and interest rates are on the rise. Official consumer price inflation just printed at an annual pace of 7.9 percent. This is with many of the official CPI metrics understating actual inflation. This is also before the spike in global energy markets with the tragedy unfolding in Ukraine. While many housing industry pundits were clinging to the slight drop in mortgage rates last week, that blip is now a [...]

By |2022-03-17T14:46:55+00:00March 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, Denton TX Real Estate, DFW Home Prices, DFW New Homes, DFW Real Estate, DFW Relocation, Economy, Housing Market, Housing Policy, Monetary Policy, Mortgage Rates, Real Estate|0 Comments
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North Texas Home Sales Hit A Wall As Inventory Dries Up

North Texas home sales hit a wall in February as inventory available in the market dried up across the Dallas-Fort Worth area. The Fed-fueled mania gripping the local real estate market is now left searching for support at grossly distorted levels. North Texas home sales declined by 6 percent compared to February of last year. Pending home sales fell 13 percent. The supply of homes available for sale has never been lower according to NTREIS statistics going back 20 years. Inventory in the DFW area now stands at a single month of supply at the [...]

By |2021-03-12T14:13:20+00:00March 10th, 2021|Denton County Home Prices, Denton County Homes For Sale, Denton County Real Estate, Denton County Relocation, Denton Tx Home Prices, Denton TX Real Estate, DFW Home Prices, DFW Homes For Sale, DFW Real Estate, DFW Relocation, Housing Market, Monetary Policy, Mortgage Rates, Pending Home Sales, Real Estate, Spin Cycle|0 Comments
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AEI: The Fed is Misdiagnosing Monetary Policy’s Effect on the Housing Market

The American Enterprise Institute is taking the Federal Reserve to task for its bubble-blowing monetary policy. The AEI' latest report on housing market indicators is a wonderful composition detailing how Federal Reserve monetary policy has fueled massive home price appreciation and speculation in the the U.S. housing market. It's refreshing to see that others calling the Powell Fed out for blatantly obvious asset price distortions. With Powell continuing the denial and misdirection, the problems are likely to get worse before they get better. I would encourage you to read the entire AEI Housing Center report [...]

By |2021-02-03T15:15:20+00:00February 3rd, 2021|Dallas Tx Home Prices, Denton County Home Prices, Denton County Real Estate, Denton Tx Home Prices, DFW Home Prices, Economy, Education, Housing Market, Housing Policy, In the Press, Monetary Policy, Mortgage Rates, Real Estate, Regulation, Spin Cycle|1 Comment
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Bombshell: Houston Agents Caught Steering Buyers Away From Homes With Lower Commissions

On November 2020 the National Association of Realtors settled its antitrust case with the Department of Justice, agreeing to a number of reforms over how MLS boards operate. The settlement also addressed how Realtors compete in their local markets. We now have more understanding of why the case was filed, and why it was settled. The Houston Chronicle is reporting on how several Houston area agents were caught on tape steering buyers away from homes which did not offer three percent commissions. Last year the Department of Justice announced the lawsuit against NAR and the [...]

By |2021-01-14T11:59:19+00:00January 13th, 2021|Denton County Real Estate, Denton TX Real Estate, Housing Market, Housing Policy, In the Press, Real Estate, Regulation, Spin Cycle, Texas Real Estate|2 Comments
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Reckoning Awaits For Inflated North Texas Real Estate Market

The reckoning awaits for the hyper-financialized north Texas real estate market.  It may take a few months for reality to sink in, but the writing is on the wall regardless of the efforts of housing industry pundits and professional economists to downplay the damage. The hopes of a v-shaped recovery are vanishing faster than the toilet paper on the shelves of your local grocery store. Many of the supposed experts, like the PhD economists employed at the Texas Real Estate Center at A&M, have turned a blind eye to the artificial inflation in Texas real [...]

By |2020-03-28T17:13:52+00:00March 21st, 2020|Denton County Home Prices, Denton County Real Estate, Denton County Relocation, Denton Tx Home Prices, Denton TX Real Estate, DFW Home Prices, DFW Real Estate, DFW Relocation, Energy & Utilities, Housing Market, Markets, Mortgage Rates, Real Estate, Relocation, Texas Employment, Texas Home Prices, Texas Real Estate|0 Comments
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