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Affordability

North TX Housing Affordability Gets Crushed

North Texas housing affordability got crushed in October. The temporary relief of lower mortgage rates was just that. Mortgage rates bounced significantly following the Federal Reserve's September rate cut. Real market rates for traditional U.S. mortgages remain near the 7 percent mark following the election. The combination of real mortgage rates and continued high prices has proven to be a major challenge for the North Texas housing market. As rates and expectations cooled into the September FOMC meeting, available home inventory was beginnig to shrink. Denton County home sales jumped 10 percent from the previous [...]

By |2024-11-15T17:36:29+00:00November 15th, 2024|Denton County Home Prices, Denton County Homes For Rent, 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 Home Prices, DFW Homes For Lease, DFW New Homes, DFW Real Estate, DFW Relocation, Economy, Housing Market, Housing Policy, Monetary Policy, Mortgage Rates|0 Comments
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Inflated Prices Curb Denton County Home Sales

Inflated prices continue to curb Denton County home sales. Prevailing mortgage rates are at the lowest levels we've seen in 19 months, but that hasn't helped sales activity. Closed sales were down 7 percent year-over-year in the DFW area. Sales were 9 percent lower across Denton County, while pending sales contracts slid 11 percent. It might have something to do with the prices. Average home prices in Denton County were up 5.7 percent from a year ago, flirting with that spring 2022 bubble top again. Official stats show we still haven't taken out the May [...]

By |2024-09-21T13:08:01+00:00September 12th, 2024|Denton County Homes For Rent, Denton County Homes For Sale, Denton County Real Estate, Denton County Relocation, Denton Realtor, Denton Tx Home Prices, Denton TX Homes For Lease, Denton TX Homes For Sale, Denton TX Real Estate, DFW Home Prices, DFW Homes For Lease, DFW Homes For Sale, DFW Real Estate, DFW Relocation, Economy, Employment, In the Press|0 Comments
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Denton County House Payments Hit Record Highs

Denton County house payments hit record highs in July. Prospective home buyers continued to get pinched by higher mortgage rates and the rebound in North Texas home prices through the first half of the year. As mortgage rates mushroomed back toward 7 percent, area house payments have soared for buyers using a market rate mortgage. Median home prices came in at $475,000 for the month of July. The median house payment for Denton County buyers factoring in the rise in interest rates translates to a principal and interest payment of over $2500 per month. That's [...]

By |2024-08-13T11:18:46+00:00August 11th, 2023|Denton County Home Prices, Denton County Homes For Sale, Denton County New Homes, Denton County Real Estate, Denton County Relocation, Denton Realtor, DFW Home Prices, DFW Homes For Sale, 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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New Home Sales Bounce in May with Big Drop in Prices

The Census Bureau reported new home sales in May at a seasonally adjusted annual rate (SAAR) of 763,000 units. That was 12.2 percent better than the revised April estimate and 20 percent better than May of last year. So what drove the jump in new home sales? Lower prices! "The median sales price of new houses sold in May 2023 was $416,300. The average sales price was $487,300." That average new home price of $487,300 is the lowest in 2023 and over $28,000 lower than the March estimate. The May average price is $81,400 lower [...]

By |2023-06-27T15:26:13+00:00June 27th, 2023|Denton County New Homes, Denton County Real Estate, Denton County Relocation, DFW Home Prices, DFW New Homes, DFW Relocation, New Home Sales|0 Comments
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North Texas Housing Market – Summer of Denial

The North Texas housing market continued correcting in July. Closed sales were 15 percent lower for the DFW compared to July of last year. Pending contracts also slid lower by a corresponding amount. The median price of a home in the Dallas-Fort Worth market slipped to $389,000, up 16.1 percent year-over-year. Average prices in DFW dropped even more, sliding over $25,000 from the high in June. That may be the high for North Texas home prices for a few years depending on how this cycle plays out. The housing market correction has definitely been noticeable [...]

By |2022-08-10T21:38:28+00:00August 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 County Relocation, DFW Homes For Lease, DFW Homes For Sale, DFW New Homes, DFW Real Estate, DFW Relocation, Housing Market, Housing Policy, Monetary Policy, Mortgage Rates|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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Texas Realtors Pay Over $6 Million For Bogus Research At A&M RECenter

"The first rule of fight club is: You do not talk about fight club." Texas Realtors continue to throw money at bogus research at the Texas A&M Real Estate Center. Many Texas Realtors probably don't even know that a portion of their annual licensing dues goes to pay the salaries of the staff at the RECenter. Many are probably unaware of how they are being shortchanged by this Texas institution which is still partnering with the Federal Reserve when it comes to economic research. That is a shame, because the garbage being produced by the [...]

By |2019-05-14T15:52:53+00:00May 14th, 2019|Denton County Real Estate, Denton Tx Home Prices, Denton TX Real Estate, DFW Home Prices, DFW Real Estate, Housing Policy, Politics, Spin Cycle, Texas Real Estate|0 Comments
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Denton County Real Estate Market Gets Lift From Crashing Yields, Lower Rates

The Denton County real estate market is getting a much-needed lift going into the spring selling season. That lift is coming courtesy of crashing bond yields and a drop in mortgage interest rates. Lower interest rates were desperately needed to stimulate a stagnating housing market. The Freddie Mac Primary Mortgage Market Survey confirmed today what many have been expecting.... a continued drop in mortgage rates. Freddie Mac's index just posted the biggest one-week drop in a decade. If the economy continues to slow, 3 percent mortgage rates could be in play again. That could be [...]

By |2024-07-06T22:49:02+00:00March 28th, 2019|Denton County Home Prices, Denton County Homes For Sale, Denton County Real Estate, Denton County Relocation, Denton Tx Home Prices, Denton TX Homes For Sale, Denton TX Real Estate, DFW Home Prices, DFW Homes For Sale, DFW Real Estate, Economy, Housing Market, Mortgage Rates, Texas Real Estate|0 Comments
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Denton TX Mortgage Rates Lowest In 9 Months

The benchmark 30-year mortgage interest rate dipped to 4.45 percent in the latest Freddie Mac weekly survey. That's the lowest level for mortgage interest rates that Denton Texas home buyers have seen in since last March. Not surprisingly, mortgage purchase applications have picked up slightly to start 2019. That's good news because purchase applications were trending lower for much of the fourth quarter of 2018 It remains to be seen whether the dip in interest rates will be enough to spark area home sales into the green. While mortgage rates are the lowest we've seen [...]

By |2019-01-11T22:39:05+00:00January 11th, 2019|Denton County Home Prices, Denton County Real Estate, Denton Tx Home Prices, Denton TX Real Estate, DFW Home Prices, DFW Real Estate, Mortgage Rates|0 Comments
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Aaron Layman Realtor Denton County Texas Questions? Call me now at
940-209-2100

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