HomesUSA.com Reports Fewer Days on Market, Lower Prices

DALLAS, Nov. 20, 2019 (GLOBE NEWSWIRE) -- Total new home sales in Texas last month have hit a record 12-month high as Houston strongly pulls ahead of Dallas-Ft. Worth as the top market for new home sales, according to a new housing report from HomesUSA.com. The data comes from the Houston Association of REALTORS, North Texas Real Estate Information Systems, San Antonio Board of REALTORS and the Austin Board of REALTORS Multiple Listing Services.

Houston, which regained its top ranking from Dallas-Ft. Worth this summer, reporting a 12-month rolling average of 1,478 new home sales in October. Dallas-Ft. Worth reported 1,357 new home sales for the same period, according to HomesUSA.com.

In October, Texas reported a 12-month rolling average of 4,134 new home sales from its top four new home markets, up from 4,098 sales in September. That’s also higher than the 3,871 new home sales reported in November of last year. All four of the state’s largest new homes markets, showed improved total new home sales last month.

Houston and Dallas-Ft. Worth had more good news for home builders. The state’s top two markets reported fewer Days on Market (DOM) for new homes, according to the HomesUSA.com New Home Sales Index. The DOM for Houston was 135.60 days in October versus 136.38 days in September. In Dallas-Ft. Worth, the DOM in October was 113.45 days versus 114.41 days in September.

Home buyers benefited from lower new home prices in Texas. The 12-month rolling average of sales price for October came in at $354,042, down from $354,987 in September and significantly lower than the $357,717 average price posted 12 months ago in November 2018.

"The Texas new homes market continues to impress," says Ben Caballero, CEO of Dallas-Ft. Worth based HomesUSA.com. “2019 is proving to be another record year for new homes as Houston’s rebound continues to strengthen and the Dallas-Ft. Worth market continues to grow. Our economy is proving to be the envy of the nation. It’s a great time to be a Texan," he added. Caballero is the nation's top-ranked real estate agent and holds the current Guinness World Record title for “Most annual home sale transaction through MLS by an individual sell side real estate agent." 

The only area of concern continues to come from Pending New Home Sales data, which remains in decline according to data from HomesUSA.com. For Texas, pending new home sales in October based on a 12-month rolling average decreased to 3,723 from 3,951 pending new home sales in September.

Days on Market – New Homes in Texas (Exclusive Data)
The state’s top two new home markets – Houston and Dallas-Ft. Worth – reported fewer Days on Market, the opposite was true in Austin and San Antonio. According to the HomesUSA.com New Home Sales Index, both Austin and San Antonio saw their Days on Market increase, indicating a slight slowing in sales pace. The DOM for Austin was 111.39 days in October versus 111.04 days in September. In San Antonio, the DOM was 101 days in October versus 100.37 days in September. Statewide, the pace of new home sales also improved, as the average DOM was 118.98 days in October versus 119.86 days in September. (See Chart 1: Texas New Homes Days on Market)

Texas New Home Sales Data
Total new home sales continue to improve last month in the state’s top four new home markets. In Houston, the state’s top new home sales market, total new home sales in October were 1,478 versus 1,462 total sales in September. Dallas-Ft. Worth total new home sales in October were 1,357 versus 1,343 total sales in September. Austin total new home sales in October were 735 versus 733 total sales in September. San Antonio total new home sales in October were 565 versus 560 total sales in September. (See Chart 2: Texas New Home Sales)

Texas New Home Prices
The good news for home buyers is that the average new home sales price was lower in three of the state’s largest new home markets: Houston, Dallas-Ft. Worth and Austin. San Antonio was the only major new homes market to show an increase in its average new home price.

In Houston, the average new home price was $352,070 in October versus $353,506 in September. In Dallas-Ft. Worth, the average new home price for October was $372,366 versus $373,461 for September. Austin’s average new home price in October was $368,485 versus $369,077 in September. In San Antonio, the average new home price for October was $297,483 versus $296,742 for September. (See Chart 3: Texas New Home Prices)

Texas Pending New Homes Sales Data
Pending new home sales continue to slow down in all four of the state's top new home markets last month. Houston posted a 12-month rolling average for pending new home sales in October of 1,325  versus 1,407 pending sales in September. Dallas-Ft. Worth pending new home sales in October were 1,235 versus 1,307 pending sales in September. Total pending sales for Austin in October were 650 versus 696 pending home sales in September. San Antonio pending new home sales in October were 513 versus 542 pending new home sales in September. (See Chart 4: Texas Pending New Home Sales)

Caballero is sharing this Texas new homes report in advance of the release by the Commerce Department of its national New Residential Home Sales report for October set for Monday, November 25, at 10:00 am Eastern.

About the HomesUSA.com New Home Sales Index
The HomesUSA.com Index is a 12-month rolling average of the Days on Market (DOM) for new homes listed in the local Multiple Listing Services (MLSs) for the four largest Texas markets, including Dallas-Ft. Worth, Houston, Austin, and San Antonio. Created by Ben Caballero, founder and CEO of HomesUSA.com, it is the first index to track the sale pace of new home sales specifically.

About Ben Caballero and HomesUSA.com^®
Ben Caballero, founder and CEO of HomesUSA.com, holds the current Guinness World Record title for “Most annual home sale transactions through MLS by an individual sell side real estate agent.” Ranked by REAL Trends as America’s top real estate agent for home sales since 2013, Ben is the most productive real estate agent in U.S. history. He is the only agent to exceed $1 billion in residential sales transactions in a single year, a feat first achieved in 2015 and repeated each year through 2018, when he achieved more than $2 billion. An award-winning innovator and technology pioneer, Ben works with more than 60 home builders in Dallas-Fort Worth, Houston, Austin, and San Antonio. His podcast series is available on iTunes and Google Play. An infographic illustrating Ben’s sales production is here. Learn more at HomesUSA.com |Twitter: @bcaballero - @HomesUSA | Facebook: /HomesUSAdotcom.

Note for journalists: You may contact Ben Caballero directly on his cell at (214) 616-9222 or by email at ben@homesusa.com.

Media Contact:
Kevin Hawkins
(206) 866-1220
kevin@wavgroup.com

Image: Ben Caballero
https://www.homesusa.com/wp-content/uploads/2016/06/L-38017_bcaballero_photo.jpg

Individual Chart images:

Chart 1: Texas New Homes Tracking - Days on Market – Through Oct. 2019:
https://homesusa.com/wp-content/uploads/2019/11/Chart-1-Texas-Days-on-Market.jpg

Chart 2: Texas New Home Sales – Through Oct. 2019:
https://homesusa.com/wp-content/uploads/2019/11/Chart-2-Texas-New-Home-Sales.jpg

Chart 3: Texas New Home Sales Prices – Through Oct. 2019:
https://homesusa.com/wp-content/uploads/2019/11/Chart-3-Texas-New-Home-Prices.jpg

Chart 4: Texas Pending New Home Sales – Through Oct. 2019:
https://homesusa.com/wp-content/uploads/2019/11/Chart-4-Texas-Pending-New-Home-Sales.jpg