Real Estate Archives

Census: New Home Sales Rise With Decline In Median Price

The Census Bureau reported new home sales for February that were 12.8 percent higher than a year ago. New home sales posted at a seasonally adjusted annual rate of 592,000, with the bulk of the sales increase coming from the Midwest region.. The median price of a new home contracted in February was $296,200, down from $311,300 last year. The average price of a new home contracted in February posted a surprisingly large increase to $390,400. The big decline in median prices (down over $15,000) from last year likely helped to boost February sales. Mortgage [...]

By Aaron Layman|2022-08-06T13:29:35+00:00March 23rd, 2017|Economy, Existing Home Sales, Housing Market, New Home Sales, Real Estate, Texas Home Prices|0 Comments

NAR: Existing Home Sales Cool In February

The National Association of Realtors reported that existing home sales cooled to a seasonally adjusted annual rate of 5.48 million in February. Sales of existing homes fell 3.7 from January levels but were 5.4 percent higher year-over-year. NAR continues to fret about an inventory shortage when the real culprit is elevated home prices in general. Existing home sales are still treading at levels well below the previous cycle peak. As I have said repeatedly, there is no shortage of homes for sale. There is a shortage of affordable homes for sale, homes that real working [...]

By Aaron Layman|2017-12-22T01:45:05+00:00March 22nd, 2017|Economy, Existing Home Sales, Housing Policy, Mortgage Rates, Real Estate, Relocation|0 Comments

Financialization Of Housing And The Disturbing Gap In New Home Sales

The financialization of the U.S. housing market has led to a rather disturbing gap in new home sales relative to existing home sales. This is a subject I was referencing this week when I mentioned the problem builders are facing with the lack of affordable land to build new homes on. Today the Census Bureau reported new home sales for January came in at a seasonally adjusted annual rate of 555,000. Previous months were also revised lower, with November taking a significant haircut. On a year-over-year basis January new home sales were up 5.5 percent. [...]

By Aaron Layman|2022-08-06T13:30:06+00:00February 24th, 2017|Economy, Housing Policy, In the Press, Markets, New Home Sales, Politics, Real Estate, Regulation, Spin Cycle, Video|0 Comments

NAR Finally Gets Real About Home Affordability Issues

The National Association of Realtors is out with a new method of gauging home affordability. As part of NAR's look at the the growing rift between housing availability and home affordability, NAR has developed a new affordability distribution curve and a home affordability score. The new monthly research is designed to look at home affordability conditions among different income percentiles, gauging how many homes on the market are actually affordable to various buyer income groups. The new affordability distribution curve and score show that many U.S. homes are no longer affordable to typical prospective buyers. [...]

By Aaron Layman|2022-08-06T13:30:36+00:00February 20th, 2017|Economy, Housing Policy, In the Press, Markets, Mortgage Rates, New Home Sales, Politics, Real Estate, Spin Cycle, Texas Employment|0 Comments

Texas Realtors Unwittingly Paying For Bad TAMU Economic Research

Texas Realtors are paying for some bad economic research. That's the only conclusion I can come to after looking at the current situation where highly educated economists are giving short shrift to the underlying causes of Texas home price inflation and market distortions. While the Fed has abdicated its responsibility to the American public, TAMU economists seem to be cooperating with the Fed in offering "alternative facts" surrounding the declining affordability of housing and real estate market imbalances. In a previous post I posited a guess as to why this is happening. After looking at [...]

By Aaron Layman|2021-04-21T11:24:58+00:00February 8th, 2017|Education, Housing Policy, Politics, Real Estate, Spin Cycle, Video|0 Comments

Monkey Business – Expert Says Affordable Homes Are Going Away
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Monkey Business – Expert Says Affordable Homes Are Going Away

Economy, Housing Policy, Humor, In the Press, Markets, Mortgage Rates, Real Estate, Spin Cycle, Texas Employment

Monkey Business – Expert Says Affordable Homes Are Going Away

Affordable homes are going away. With the prospect of rising rates, now is the time to buy a home. That is apparently the opinion of Dr. Luis Torres, a research economist with the Real Estate Center at Texas A&M. Torres, in a rather interesting piece in the Houston Business Journal seems to be confident that Houston's real estate market is on the road to recovery: “I can say this with some certainty that the worst of the downturn is behind us.” I'm not surprised that HBJ would print a piece like this (after all it is [...]

By Aaron Layman|2017-12-22T01:16:40+00:00February 5th, 2017|Economy, Housing Policy, Humor, In the Press, Markets, Mortgage Rates, Real Estate, Spin Cycle, Texas Employment|1 Comment

New Home Sales Crash Back To Reality Of Higher Rates

The Census Bureau reported December new home sales of 536,000 (seasonally adjusted annual rate). This was a 10 percent drop from the revised November numbers and well shy of expectations. Unadjusted new home sales (38,000) were flat year-over year. The average price of a new home contracted in December 2016 was $384,000 while the median price posted at $322,000, near the highs for 2016. So what happened to the lofty expectations of higher new home sales? In a word it it was an AFFORDABILITY problem. The real estate pundits who were expecting higher mortgage interest [...]

By Aaron Layman|2018-09-08T15:51:13+00:00January 26th, 2017|Development, Economy, Housing Market, Mortgage Rates, New Home Sales, Real Estate|0 Comments

Why Home Builders Can’t Meet Housing Demand

America's home builders are having a difficult time meeting housing demand, or so they say. While access to credit is cited as a factor that is holding back builders, that's only a partial cause of builders' reluctance to put their money where their optimism index mouth is. As NAHB chief economist, Robert Dietz, explains it builders are finding it more difficult and expensive to develop land. Home builders should be thanking the The Federal Reserve for this warped, manipulated landscape, but most builders will likely avoid the discussion. The first rule of fight club is [...]

By Aaron Layman|2021-04-21T11:25:23+00:00January 11th, 2017|Development, New Home Sales, Real Estate, Spin Cycle|1 Comment

New Home Sales Rise In November To 592,000 (SAAR)

New home sales rose to a seasonally adjusted annual rate of 592,000 in November. Census Bureau numbers showed the average price of a new home contracted in November was $359,900, down from the average price of $376,800 seen last year. The median price of $305,400 was also lower than last year's median of $317,000. New home sales have been surprisingly strong for most of the year, posting double-digit increases compared to last year. Census revised previous months sales slightly lower, but all things considered new home sales have been fairly strong prior to the interest [...]

By Aaron Layman|2018-09-08T15:52:06+00:00December 23rd, 2016|Denton County New Homes, Denton Tx New Homes, Development, DFW New Homes, Housing Market, Mortgage Rates, New Home Sales, Real Estate, Relocation|0 Comments

NAR: Existing Home Sales Up 5.9 Percent In October
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NAR: Existing Home Sales Up 5.9 Percent In October

In the Press, Markets, Mortgage Rates, Real Estate

NAR: Existing Home Sales Up 5.9 Percent In October

Existing home sales increased 5.9 percent year-over-year in October. Numbers from the National Association of Realtors put existing home sales for October at a seasonally adjusted annual rate of 5.60 million in October, a two percent increase from the previous month. This is welcome news from NAR, but it is also important to remember that this was before the spike in mortgage rates we have seen during the last month. "The good news is that the tightening labor market is beginning to push up wages and the economy has lately shown signs of greater expansion. [...]

By Aaron Layman|2016-11-22T21:30:36+00:00November 22nd, 2016|In the Press, Markets, Mortgage Rates, Real Estate|0 Comments

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Matt B., Home Seller

"Aaron helped us narrow down our choices and navigate the market. He is very knowledgeable about making a wise decision. He will help you find a house that you love and is a good financial decision."

Kristina R., Home Buyer

"Aaron was our realtor when we bought our house 13 years ago and he was our realtor when we sold our house in 2014. He is honest about the market and very helpful with all aspects of buying/selling a home. We would recommend him to anyone in need of realty services."

Paula O., Home Buyer & Seller

"We had several agents to choose from as we'd been in the area for several years. Aaron was an easy choice as he's knowledgeable and wasn't afraid to go after what's best for us, his clients! He kept us well informed throughout the process and was always prompt in answering questions from start to finish. We definitely recommend Aaron!"

Shanna K., Home Buyer

"Working with Aaron was the best decision we made when looking for a new home and selling our previous home. He is one of the most knowledgeable realtors in the area. He knows the numbers, the trends, and always has data to back up his recommendations and decisions. Likewise, he made the process simple and understandable at the same time. Aaron was always in our corner and always did his best to get the best outcome for us. I have recommended Aaron to many friends and family and would recommend him to anyone looking to buy or sell their home."

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Real Estate

Monkey Business – Expert Says Affordable Homes Are Going Away

NAR: Existing Home Sales Up 5.9 Percent In October