Months Of Inventory

Denton County Home Sales Hit 11-Year Low

Denton County home sales slid to an 11-year low in June. Closed sales continued to stagnate with mortgage rates still hovering near seven percent. Home prices were near all-time highs. The confusing mix of housing unaffordability pushed more more buyers to the sidelines. Closings were 14 percent lower year-over year. Average home prices in Denton County moved up 4.1 percent to $589,000 in June. Pending contracts slid 13 percent year-over-year in June. With sluggish sales, available home inventory perked up significantly last month. Months of supply in Denton County shot up 36 percent from a [...]

Dallas TX Luxury Home Sales Go Parabolic

Luxury home sales were on rocket fuel last month in Dallas Texas. Sales of luxury homes price at a $1 million or more spiked 44 percent from May of last year. The average price of a Dallas home skyrocketed 21 percent year-over-year setting a new record high of $716,131. That's $124,000 higher than May of last year and $63,000 higher than the previous bubble peak of June 2022. While the Federal Reserve is still trying to shrink that bloated balances sheet, The U.S. Treasury department is still pumping out a lot of new debt issuance [...]

Denton County Housing Market Searching For a Soft Landing

Denton County's housing market was still searching for that soft landing in November. Home sales were down 2 percent year-over-year. Pending sales fell by nine percent. Median home prices were steady at $450,000. Ironically enough that's exactly where prices stood in November of last year. Average prices slid for the fourth consecutive month, putting them down 1 percent lower than last year. The average price of a Denton County home is $68,000 (eleven percent) lower than the bubble peak of last spring. The North Texas housing market is currently caught between The Federal Reserve's need [...]

North Texas Housing Market Stalls with Eight Percent Rates

The North Texas housing market continued to cool with mortgage rates rising to eight percent in October. Closed sales in Denton County fell 9 percent from a year ago. Pending contracts slid 2 percent. Inventory remained steady at 2.5 months of supply. Percent of list and days on market were relatively unchanged. Median home prices in Denton County slid to $450,000 in October, down 1.3% from a year ago. Average prices cooled as well, sliding to $538,063. Prices have cooled for 3 months in a row. It's not just normal seasonality at play. Higher mortgage [...]

Denton County Home Prices Bounce, But Still Lower Than a Year Ago

The Denton County and North Texas housing market continued to bounce in April. Median home prices were up over $40,000 from January, but still down 1.6 percent from April of last year. The ridiculous bubble from the spring of 2022 continues to make for tough year-over-year comparisons. Thin resale inventory and higher prices are still taking a toll on sales. Closed sales in Denton County were down 8 percent from a year ago, while pending contracts were 5 percent lower. With the tighter conditions this spring average days on market fell to 51 days. Average [...]

Real Estate Market Bounces as Banking Crisis Fades

The real estate market bounced in March as turmoil in the banking sector subsided. Denton County home sales nearly doubled from the January lows, putting sales up 13 percent from a year ago. Pending contract edged up as well, placing contract activity 10 percent higher than March of last year. Some context is in order here since activity is still light compared to historical trend. This is largely due to diminished inventory levels. Denton County was still sitting on 1.8 months of supply in March. That's down from the 2.9 months we saw in October [...]

Denton County Housing Market – Calm Before the Storm?

The Denton County housing market experienced a temporary lift in the first two months of the year. February home sales bounced from the January lows putting them 15 percent higher than the same month last year. Pending sales were up 23 percent in February across Denton County. Median and average home prices bounced slightly during the month. The available supply of homes dipped to just 1.7 months. As more sellers and builders chopped prices in recent months, more buyers stepped back into the market. Percent of original list price has made marginal improvements for the past [...]

Denton County Housing Market Correction Continues

The Denton County housing market correction continues to evolve. October home closings fell 22 percent year-over year. Pending sales were down by a similar amount. The housing market reset continues to take shape across North Texas as inflated home prices crumble under the weight of the Federal Reserve's tightening cycle. Six and seven percent mortgage rates have proven to be too much for a housing market that ran up too far too fast during the pandemic. Median home prices in Denton County continue to cool. Median home prices are down about $45,000 from the spring [...]

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 [...]

Denton County Home Sales Continue Spring Rebound In April

Denton County home sales enjoyed a continued spring rebound in April as low mortgage rates fueled strong demand for new homes and improved affordability for prospective buyers. Home sales in Denton County jumped 7 percent from the same time last year, better than the 3 percent gain seen in the DFW area during April. The average price of a Denton County home declined just slightly in April to roughly $358,000. Closings of new construction rose 13 percent while sales of used homes improved 6 percent. Home sales in the City of Denton rose about 2 [...]

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