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Real Estate

New Home Sales Cool 1.2% In August

The Census Bureau reported that new home sales fell 1.2% year-over-year in August. As we saw last week with the existing home sales decline, Hurricane Harvey put a damper on real estate transactions in the southern states. It is quite likely that September home sales will also be affected by the fallout from Harvey. The median price of a new home contracted in August was $300,200 during the month of August. The average price of a new home contracted last month was $368,100. Both figures represent price increases from a year ago. Median new home [...]

By |2017-10-28T12:24:51+00:00September 26th, 2017|Collin County Home Prices, Dallas Tx Home Prices, Denton County Home Prices, Development, Housing Market, Mortgage Rates, New Home Sales, Real Estate, Texas Home Prices, Texas Real Estate|0 Comments
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Student Loan Debt Delaying Home Purchases

First-time home buyers and millennials are having a pretty difficult time keeping pace in the current housing market, and student loan debt is a significant part of the problem. The National Association of Realtors and American Student Assistance study, Student Loan Debt and Housing Report for 2017, provides a number of interesting examples of how debt is keeping home purchase activity subdued. The study The amount of student loans in the United States now exceeds $1.45 trillion, and the growth shows no signs of slowing. One of the more interesting findings of the study is [...]

By |2017-10-28T12:28:07+00:00September 18th, 2017|Collin County Home Prices, Dallas Tx Home Prices, Denton County Home Prices, Economy, Education, Housing Policy, In the Press, Real Estate|0 Comments
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New Home Sales Fall 9 Percent In July

New home sales fell to a seasonally adjusted annual rate of 571,000 units in July. This was well below consensus estimates and roughly 9 percent lower than last years rate of 627,000 units according to Census Bureau numbers. The median price of a new home contracted in July was $313,700 and the average price of a new home in July was $371,200. Sharp price increases compared to last year help to explain the sharp decrease in new home sales activity in July. On a positive note, the three previous months of sales were revised higher. [...]

By |2017-10-28T12:34:55+00:00August 24th, 2017|Dallas Tx Home Prices, Development, Housing Market, Mortgage Rates, New Home Sales, Real Estate|0 Comments
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New Home Sales Rise 9.1 Percent In June

The Census Bureau estimated new home sales for June at a seasonally adjusted annual rate of 610,000. This was close to expectations, but the previous three months were revised lower. Median price of a new home contracted in June was estimated at $310,800, roughly $10,800 lower than June of last year. The average price of a new home in June was $379,500. This was $15,200 higher than a year ago. With prices now at or above the previous cycle peak, new home builders will have to be creative to maintain sales volume growth. A favorable [...]

By |2017-10-28T12:44:26+00:00July 27th, 2017|Development, Economy, Mortgage Rates, New Home Sales, Real Estate|0 Comments
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Foreign Buyers Still Flooding U.S. Real Estate Market

The the volume of foreign buyers buying U.S. residential real estate rose dramatically during the latest 12-month survey from the National Association of Realtors. The 2017 Profile of International Activity in U.S. Residential Real Estate shoes that the dollar volume of purchases by foreign buyers rose from $102.6 billion in 2016 to $153 billion in the latest 12-month period ending in March. In all, foreign buyers purchased 284,455 U.S. residential properties accounting for 5 percent of existing home sales and 10% of existing home sales by dollar volume. If you were wondering what's been driving the [...]

By |2017-10-28T12:48:15+00:00July 19th, 2017|Housing Policy, International Real Estate, Real Estate, Texas Home Prices, Texas Real Estate|0 Comments
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New Home Sales Rebound In May

The Census Bureau reported a rebound for new home sales in May. New residential home sales posted at a seasonally adjusted annual rate of 610,000. This was 2.9 percent higher than the revised April numbers and 8.9 percent higher than a year ago. The median price of a new home contracted in May was $345,800 while the average new home price in May came in at $406,400. Just like we saw with existing home sales this week, median home prices hit a new all-time high. New home sales volume, while up from last month, is [...]

By |2022-08-06T13:29:09+00:00June 23rd, 2017|Economy, Existing Home Sales, Housing Policy, New Home Sales, Real Estate, Texas Home Prices, Texas Real Estate|0 Comments
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NAR: Existing Home Sales Slip 2.3% In April

Existing home sales for April slipped 2.3 percent according to The National Association of Realtors. This comes on the back of the sharp correction in new home sales reported yesterday by the Census Bureau. Existing home sales for April posted at a seasonally adjusted annual rate of 5.57 million units. While down from the previous month, this was roughly 1.6 percent higher than last year. Lawrence Yun, NAR's chief economist, pegged the sales softness on a lack of affordable homes...  "Homes in the lower- and mid-market price range are hard to find in most markets, [...]

By |2017-08-19T10:32:21+00:00May 24th, 2017|Real Estate, Texas Home Prices, Texas Real Estate|0 Comments
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New Home Sales Tumbled In April, Unchanged Year-Over-Year

So much for the Trump bump euphoria. New home sales tumbled in April, posting at a seasonally adjusted annual rate of 569,000. This was 73,000 below the revised March figure and far below analysts expectations. Then again analysts haven't been paying attention to the real economy, so this latest data is not a surprise to anyone who doesn't have their head in the sand. Year-over-year, new home sales for April are back to unchanged according to the latest Census figures. And just like that, the "pent up demand" that pundits have been talking about has [...]

By |2017-12-22T01:42:08+00:00May 23rd, 2017|Development, Mortgage Rates, New Home Sales, Real Estate, Texas Home Prices, Texas Real Estate|0 Comments
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Housing Bubbles A Global Problem

Housing bubbles are easy to see, unless of course you are one those people in the real estate industry who feign ignorance for the sake of sales. For those who care to look, it is blatantly obvious that there is an echo bubble in real estate prices. It's a global problem that poses a number of challenges, and the potential capital destruction that would result from its collapse is probably larger than many want to admit. Everyone has to dance to the music, until the music stops. Looking at an updated index of San Francisco [...]

By |2017-08-19T10:36:20+00:00April 26th, 2017|Housing Market, International Real Estate, Markets, Real Estate, Spin Cycle, Texas Home Prices, Video|0 Comments
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New Home Sales Rise In March, Back To 1971 Levels

The Census Bureau reported that March new home sales posted at a seasonally adjusted annual rate of 621,000 units. This was up 5.8 percent from revised February numbers and the third consecutive month of sales gains for new homes. Combined with the March rise in existing home sales it would appear the first quarter of 2017 has been net positive for home sales despite the backdrop of higher mortgage rates. Preliminary new home sales for March were up 15.6% year-over-year. The average price of a new home contracted in March was $388,200, while the median [...]

By |2017-08-19T10:39:59+00:00April 25th, 2017|Development, Economy, Mortgage Rates, New Home Sales, Real Estate, Texas Real Estate|0 Comments
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