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New Home Sales Soar In July To 901,000 SAAR

New home sales for July soared to a seasonally adjusted annual rate (SAAR) of 901,000. That was the best showing for the new home market since 2007 as sales increased 13.9 percent for the month and 36.3 percent compared to July 2019. Both median and average prices jumped, rising $330,600 and $391,300 respectively. The supply of new homes plummeted to 3.9 months looking at the unadjusted numbers. Record low mortgage rates and $trillions in stimulus courtesy of the Federal Reserve's Covid-19 bailouts have proven to be the perfect recipe for home price inflation this summer. [...]

By |2020-08-26T00:06:40+00:00August 26th, 2020|Denton County Real Estate, Denton TX Real Estate, DFW Real Estate, Mortgage Rates, New Home Sales|0 Comments
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Denton Texas Employment Stalls With Fading Govt Stimulus

Denton Texas employment stalled in July as stimulus benefits for many Americans came to an end. While Denton and Denton County showed slight increases in employment from June levels, North Texas as a whole actually lost jobs during the month. The Dallas-Fort Worth-Arlington MSA region saw unadjusted nonfarm employment fall by 12,900 jobs from June levels. Employment for the North Texas region was down by 150,500 jobs compared to July 2019. The latest numbers from the Texas Workforce Commission in July are a stark reminder that the real economy has not fully recovered, even if [...]

By |2020-08-22T14:26:55+00:00August 22nd, 2020|Denton County Real Estate, Denton TX Real Estate, DFW Employment, DFW Real Estate, DFW Relocation, Economy, Employment, Texas Real Estate|0 Comments
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Denton TX Home Prices Go Parabolic With Fed Liquidity

2020 is going to be memorable for a number of reasons, and the housing market is certainly one of them. With the Federal Reserve injecting $trillions in Covid stimulus to prop up the flailing U.S. economy, Denton Texas home prices managed to completely detach from traditional fundamentals in July. Denton TX home prices skyrocketed 14.8 percent to an average price of $316,601 last month, easily shattering the all-time record. 3647 fewer people had jobs in Denton according to the latest employment report, but apparently it didn't matter. 2020 is all about central bank liquidity and [...]

By |2020-08-13T10:29:19+00:00August 10th, 2020|Dallas Tx Home Prices, Denton County Home Prices, Denton County Real Estate, Denton Tx Home Prices, Denton TX Real Estate, DFW Home Prices, DFW Real Estate, DFW Relocation, Housing Market, Texas Real Estate|3 Comments
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New Home Sales Continue Covid Rebound, Up 6.9% Year-over-Year

The Census Bureau reported new home sales for June at a seasonally adjusted annual rate of 776,000. That was a 13.8% jump from May sales and a 6.9% increase compared to June 2019. This was far better than June existing home sales reported by the National Association of Realtors this week which were still down 11.3% compared to the same time a year ago. According to Census estimates for June, median and average new home prices rose to $329,200 and $384,700 respectively. Both figures are sharp increases from May, and even June 2019. The non [...]

By |2020-07-24T17:53:41+00:00July 24th, 2020|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, DFW Relocation, Economy, Employment, Mortgage Rates, New Home Sales, Texas Real Estate|0 Comments
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Corona Hangover Coming To The North Texas Housing Market

A corona hangover is coming to the North Texas housing market. It's not a question of if, but when. Texas posted a 3rd consecutive daily record yesterday for Covid-19 fatalities, and the 2nd wave of the coronavirus has put the reopening of the Texas economy on hold. The fall opening of schools and universities is becoming more problematic by the day. Anxiety is a now common theme because there are few good choices available when leaders at the Federal and state level have failed us in so many ways. North Texas home sales rebounded sharply [...]

By |2022-08-06T13:36:48+00:00July 10th, 2020|Denton County Home Prices, Denton County New Homes, Denton County Real Estate, Denton County Relocation, Denton Tx Home Prices, Denton Tx New Homes, Denton TX Real Estate, DFW Employment, DFW Home Prices, DFW Homes For Sale, DFW New Homes, DFW Real Estate, DFW Relocation, Economy, Employment, Housing Market, Mortgage Rates|2 Comments
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Denton County New Homes See Sales Boost With Covid Recovery

Denton County new homes experienced a dramatic Covid-19 sales recovery last month. While closings of new construction were down 7 percent during the month, pending sales of new construction in Denton County skyrocketed 42 percent. This should translate to higher sales figures in the coming months. Sales of new homes in the Dallas-Fort Worth area were down 10 percent last month following the lockdowns and economic fallout surrounding the coronavirus, but pending sales spiked 43 percent in North Texas as buyers took advantage of record low interest rates and a rebound in many parts of [...]

By |2020-06-23T17:31:32+00:00June 23rd, 2020|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, DFW Relocation, Housing Market, Mortgage Rates, New Home Sales|0 Comments
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North Texas Housing Market Hit With Two Viruses

The North Texas housing market is being hit with two viruses. The Covid-19 coronavirus and the subsequent lockdowns which halted economic activity resulted in a 26 percent decline in home sales in May. That was the worst annual decline for the Dallas-Fort Worth housing market in a decade. Contrary to the story spun in the area's largest newspaper it wasn't the pandemic that "chased buyers away". The 42 million new unemployment claims and a cliff dive in the stock market were responsible for that. It's difficult to get a mortgage when you are on unemployment, [...]

By |2020-06-15T16:33:21+00:00June 9th, 2020|Denton County Home Prices, Denton County Homes For Sale, Denton County New Homes, Denton County Real Estate, Denton County Relocation, Denton TX Homes For Sale, Denton Tx New Homes, Denton TX Real Estate, DFW Employment, DFW Home Prices, DFW Homes For Sale, DFW New Homes, DFW Real Estate, DFW Relocation, Economy, Housing Market, Mortgage Rates|0 Comments
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DFW New Home Buyers Getting Squeezed By Fed Asset Inflation

New home buyers in the DFW housing market are getting squeezed. Despite the continued trend of lower overall new home prices, the price buyers are paying on a square foot basis continues to shoot higher. This is particularly the case if you look at the median new home buyer in the Dallas-Fort Worth market. The median price of a new home in the DFW area fell by 3.2 percent in April while the average price of a new home was 4.4 percent lower compared to April 2019. Even with record low mortgage interest rates, Dallas-Fort [...]

By |2020-05-28T10:33:55+00:00May 26th, 2020|Texas Real Estate|0 Comments
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Coronavirus Hits DFW Home Sales, But Prices Holding Up

DFW home sales took another hit in April. Home sales slid 18 percent during the month of April as the coronavirus took a toll on the Dallas-Fort Worth real restate market. Pending home sales slid even further, falling 24 percent for April. Despite the noticeable seasonal increase in activity during the past few weeks, it appears the spring/summer selling rush we would typically expect is going to be muted by Covid-19 this year. With over 33 million Americans filing for unemployment during the past two months, a downturn in real estate activity should be expected. [...]

By |2020-05-15T12:25:25+00:00May 11th, 2020|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 Real Estate, DFW Home Prices, DFW Homes For Sale, DFW Real Estate, DFW Relocation, Employment, Housing Market, Housing Policy, In the Press, Mortgage Rates, New Home Sales, Relocation|0 Comments
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U.S. New Home Sales Fall 9.5% To 627,000 SAAR

The Census Bureau reported new home sales (contracts) for March at a seasonally adjusted annual rate (SAAR) of 627,000. That was 15.4 percent below the revised February rate and down 9.5% from the same time a year ago. As a reminder, the Census counts a new home sale at the time of contract signing, not the actual closing. In the context of the Covid-19 pandemic we actually have a more relevant, forward-looking indicator of new home sales activity, similar to the pending sales metric we would use in the MLS. The median new home sales [...]

By |2020-04-24T11:21:15+00:00April 24th, 2020|Denton County New Homes, Denton County Real Estate, Denton Tx New Homes, Denton TX Real Estate, DFW New Homes, DFW Real Estate, DFW Relocation, Economy, Housing Market, Markets, Mortgages, New Home Sales, Texas Real Estate|0 Comments
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