July 2021

New Home Prices Hit Record Highs

The Census Bureau reported new home sales for July at a seasonally adjusted annual rate of 708,000. That was a bit better than official estimates, but still down 27 percent from the same time a year ago. New home prices hit all-time highs in July. The median price of a new home contracted last month rose to $390,500. The average price of new construction hit a new record high of $446,000. The seasonally‐adjusted estimate of new homes for sale at the end of July was 367,000. That figure is a bit misleading because a huge [...]

North Texas Home Sales Taper Before The Fed

North Texas home sales have tapered before the Federal Reserve. The stellar spring selling season is gone, and now we just have the record high prices along with limited inventory. NTREIS stats show that home sales across the Dallas-Fort Worth area declined for the second month in a row in July. Closed sales were down 15 percent, and pending sales were 10 percent lower. After setting records in June, it appears area home prices have also peaked for the time being. Median and average home prices in North Texas slipped last month but were still [...]

Go to Top