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North Texas Home Sales Hit A Wall As Inventory Dries Up

North Texas home sales hit a wall in February as inventory available in the market dried up across the Dallas-Fort Worth area. The Fed-fueled mania gripping the local real estate market is now left searching for support at grossly distorted levels. North Texas home sales declined by 6 percent compared to February of last year. Pending home sales fell 13 percent. The supply of homes available for sale has never been lower according to NTREIS statistics going back 20 years. Inventory in the DFW area now stands at a single month of supply at the [...]

AEI: The Fed is Misdiagnosing Monetary Policy’s Effect on the Housing Market

The American Enterprise Institute is taking the Federal Reserve to task for its bubble-blowing monetary policy. The AEI' latest report on housing market indicators is a wonderful composition detailing how Federal Reserve monetary policy has fueled massive home price appreciation and speculation in the the U.S. housing market. It's refreshing to see that others calling the Powell Fed out for blatantly obvious asset price distortions. With Powell continuing the denial and misdirection, the problems are likely to get worse before they get better. I would encourage you to read the entire AEI Housing Center report [...]

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 [...]

U.S. New Home Sales Flat In February

The Census Bureau reported new home sales for February at a seasonally adjusted annual rate of 618,000. This was slightly below expectations, but January was revised significantly higher so month over month the change was negligible. Compared to last year new home sales in February were up less than one percent. The median price for a new home contracted (signing of contract, not actually closing) was $326,800 while the average price of a new home last month posted at $376,700. The supply of new homes stood at 5.9 months in February, near the top of [...]

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