New Home Sales in DFW Keep Climbing as Prices Fall
By Bill Hethcock – Senior Reporter, Dallas Business Journal
The Dallas-Fort Worth new home market remains robust as sales climbed again last month and homes stayed on the market longer.
The three-month moving average of new home sales in North Texas for April was 2,078, compared to 1,825 new homes sold in March, according to Dallas-based HomesUSA.com’s New Home Sales Report. It was the second month is a row for the highest reported total monthly sales in more than two years.
The three-month moving average new home sale prices fell in April to $487,799 vs. $494,241 in March.
The market continues to “normalize,” according to Ben Caballero, CEO of HomesUSA.com and author of the report. The report uses Multiple Listing Service data from the Realtor associations of North Texas, Houston, Austin and San Antonio.
DFW was the anomaly in falling prices, with average prices increasing in Texas’ other three major housing markets.
In Houston, the average new home price was higher in April at $413,925 vs. $403,897 in March. Austin's three-month moving average price increased in April to $519,017 from $510,336 in March. In San Antonio, the average new home price also increased in April to $377,759 vs. $375,551 in March,
An increased supply of new homes in DFW has created a more balanced market, which is good for homebuilders and prospective buyers Caballero said.
“The Dallas-Fort Worth housing market continues to be robust as it normalizes from the abnormally low numbers last year,” Caballero said.
Read the full article at Dallas Business Journal here.