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Census: New Home Sales Decline 3.7 Percent In May Despite Lower Mortgage Rates

According to the Census Bureau new home sales for May posted at a seasonally adjusted annual rate of 626,000 units. This was 7.8 percent below revised April numbers and 3.7 percent below the rate seen last year. Despite plunging mortgage interest rates this year, new home sales are not exactly inspiring any headlines. The median price of a new home contracted in May was $308,000 while the average price of a new home stood at $377,200. The inventory of new homes for sale stood at 6.4 months of supply, up from 5.6 months a year [...]

By |2019-06-25T16:20:56+00:00June 25th, 2019|Denton County New Homes, Denton County Real Estate, Denton Tx New Homes, Denton TX Real Estate, DFW New Homes, DFW Real Estate, Housing Market, Mortgage Rates, New Home Sales|0 Comments
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Denton County Home Sales Climb In May, City of Denton Sees All-Time High For Prices

Denton County home sales rose 3 percent compared to the same month last year, driven by a the precipitous drop in mortgage rates which are now back below a 4-handle. The increase in home sales this spring has offset the weak start to the year during the first quarter. The average price of a Denton County home was roughly $368,525 in May, up 4 percent from prices last year. The inventory of homes for sale in Denton County rose 25 percent, hitting 3.4 months of supply. New home sales continued to fare better than the [...]

By |2019-06-17T12:33:48+00:00June 11th, 2019|Denton County Home Prices, Denton County Homes For Sale, Denton County Real Estate, 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, Mortgage Rates, Relocation, Texas Real Estate|0 Comments
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Denton County Employment Growth Still Solid, Why Are Home Sales Stagnating?

Denton County employment growth is still humming along. The Dallas-Fort Worth area continues to add jobs. Even with the job growth, home price gains in the DFW area continue to slow. This is confirmed in the recent numbers from Case-Shiller. Along with many professional PhD economists, the Case-Shiller committee seems to be puzzled that the housing market isn't firing on all cylinders given the recent plunge in mortgage interest rates. "Given the broader economic picture, housing should be doing better." Even Freddie Mac's deputy chief economist seems to be perplexed that the housing market isn't [...]

By |2020-03-28T14:39:06+00:00May 31st, 2019|Dallas Tx Employment, Denton County Employment, Denton County Relocation, DFW Employment, DFW Real Estate, DFW Relocation, Economy, Education, Housing Market, In the Press, Mortgage Rates, Pending Home Sales, Politics, Relocation, Texas Real Estate|0 Comments
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Denton County New Home Sales Spring To Life In March

Denton County new home sales are enjoying a spring revival courtesy of lower mortgage interest rates. Preliminary March data for North Texas shows that home sales rebounded in March, with new home sales driving the action. Buyers were obviously lured off the fence in the DFW area when it came to buying new homes. It also helped that new home builders were keeping price points lower. The average price of new homes in Dallas-Fort Worth still shows to be softening. Pending sales data for March looks a bit weaker than closings, so it will be [...]

By |2020-06-07T03:28:17+00:00April 2nd, 2019|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, Economy, Housing Market, Mortgage Rates, Politics, Texas Real Estate|0 Comments
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Lower Mortgage Rates Fuel February Rebound In Denton County Real Estate Market

Lower mortgage interest rates and a sharp rebound in the stock market helped fuel a rebound in the Denton County real estate market in February. Closed home sales declined 4 percent year-over-year, improving from poor January figures. Average home prices in Denton County rose 2.4 percent compared to February of last year. Pending home sales for February actually moved into positive territory rising 6 percent for the month. The increase in contract signings indicates that buyers were enticed by dramatically higher inventory levels and the improvement in mortgage interest rates. New home sales in particular, [...]

By |2024-02-07T23:11:33+00:00March 11th, 2019|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, Housing Market, Mortgage Rates, Relocation, Texas Real Estate|0 Comments
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Denton County Employment Growth Continues In 2019

The BLS February employment report was a big disappointment in terms of the number of jobs added, but Denton County continues to see solid employment growth. So far in 2019 the trend of more jobs in the area is still intact. The Dallas-Fort Worth area is still churning out jobs, and that is certainly welcome news considering the larger macroeconomic backdrop. For the time being, Denton and the DFW area are still churning out decent job numbers. The Texas economy added 15,400 seasonally adjusted nonfarm positions in January 2019, and Texas employers added 292,000 jobs [...]

By |2019-03-10T16:06:28+00:00March 10th, 2019|Denton County Employment, Denton County Real Estate, Denton County Relocation, DFW Employment, DFW Real Estate, DFW Relocation, Economy, Relocation|0 Comments
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Want To Sell Your Denton County Home? Time To Get Real

Denton County home sellers are experiencing a different real estate market in 2019. It's the type of market some people probably remember, but one they haven't experienced for a number of years as the Federal Reserve and other global banks jawboned markets higher and fueled a speculative frenzy in global real estate. Average days on market continued to rise in February. Even though sales activity rebounded a bit last month, the Denton County housing market correction that started during the last half of 2018 is still taking shape. While many housing pundits and professional economists [...]

By |2024-02-07T23:09:09+00:00March 4th, 2019|Denton County Homes For Sale, Denton County Real Estate, Denton TX Homes For Sale, Denton TX Real Estate, DFW Homes For Sale, DFW Real Estate, Economy, Housing Market, Real Estate|0 Comments
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Case-Shiller: Dallas Home Prices Continue To Cool In December

The S&P/Case-Shiller home prices indices for December showed that Dallas home prices continued to cool in December. While the national index for home prices was 4.7 percent higher, Dallas trailed at an annual growth rate of 3.9 percent. The index for Dallas home prices was essentially flat for the sixth consecutive month. Among the major cities in the 20-city index, Las Vegas, Phoenix and Atlanta showed the highest yearly gains in December, with increases of 11.4%, 8.0% and 5.9% respectively. San Diego and DC showed the smallest increases, registering price gains of 2.3% and 2.7%. [...]

By |2020-03-28T14:40:17+00:00February 26th, 2019|Dallas TX Real Estate, DFW Home Prices, DFW Real Estate, Housing Market|0 Comments
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Zillow Offers Coming To Dallas, Company Losses Widen

Zillow Offers are reportedly coming to the Dallas market sometime in 2019. The internet giant/real estate portal will reportedly be expanding its Zillow Offers iBuyer program to sellers in the DFW market sometime this year. Zillow's version of the cash offer buy-your-home-at-a-discount service is already operational in several markets including Phoenix, Vegas, Atlanta, Denver and Charlotte. Zillow reportedly has some lofty plans for their iBuyer program according to their latest investor presentation and earnings release. After posting a full-year loss of more than $119 million for 2018, Zillow founder, Rich Barton, is returning as CEO [...]

By |2019-02-22T22:50:11+00:00February 22nd, 2019|Denton County Real Estate, Denton County Relocation, Denton TX Real Estate, DFW Real Estate, Housing Market, In the Press, Real Estate, Spin Cycle|0 Comments
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Denton County Home Sales Fall Out Of The Gate In 2019

Denton County home sales remained in their downward trend as we started 2019. NTREIS figures show that sales of Denton County homes fell 13 percent from the same time last year. Pending sales, a more forward looking indicator, did show a slight improvement, though not enough to pull the index into positive territory. Pending home sales in the Denton County area were down 6 percent compared to January 2018. The recent plunge in mortgage rates back to 1-year lows has helped to cushion the fall in an otherwise stagnating housing market. DFW home sales fell [...]

By |2019-02-18T20:21:10+00:00February 12th, 2019|Denton County Home Prices, Denton County Homes For Sale, Denton County Real Estate, 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|1 Comment
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