DALLAS, Jan. 21, 2020 (GLOBE NEWSWIRE) -- Annual new home sales in Texas appear to have peaked in November as December shows a slowing in average monthly new home sales in Houston, Dallas-Ft. Worth, Austin and San Antonio, according to new homes sales report from HomesUSA.com.
In December, Texas reported a 12-month rolling average of 3,817 new home sales statewide, down from 4,168 sales in November. The HomesUSA.com report is based on data provided by Houston Association of REALTORS, North Texas Real Estate Information Systems, San Antonio Board of REALTORS and the Austin Board of REALTORS Multiple Listing Services.
“The decline in Texas new home sales in December is an anomaly,” said Ben Caballero, owner of HomesUSA.com and a current Guinness World Record title holder. “The good news for builders is our data shows homes sold faster last month as there were fewer Days on Market overall for new homes.”
According to the HomesUSA.com New Home Sales Index, the Days on Market (DOM) average in Texas was 116.92 days in December versus 118.32 days in November. The DOM declined in Austin and the state’s biggest new homes market Houston.
More good news for Builders: the average sales price of a new home was higher statewide in December. In Texas, the 12-month rolling average sales price of a new home was $356,516 in December, an increase from $354,016 in November. New home sales prices were higher in three of the four biggest new home markets in Texas, including Dallas-Ft. Worth, Austin and San Antonio. Only Houston posted a lower average new home sales price in December.
“I expect to see a healthy seasonal increase in sales and a continuation of Texas’ robust market in 2020,” added Caballero.
He notes that pending new home sales continues to be the one soft spot in the HomesUSA.com new housing market. Last month, pending new home sales were down statewide, dropping in December to 3,498 pending sales versus 3,766 pending sales in November.
Days on Market – New Homes in Texas (Exclusive Data)
Austin and the state’s biggest new homes market Houston show fewer Days on Market while the DOM increased slightly in Dallas-Fort Worth and San Antonio according to the HomesUSA.com New Home Sales Index. The DOM for Austin was 109.24 days in December versus 111.45 days in November. In Houston, the average DOM decreased in December to 131.83 days versus 135.32 days in November. The average DOM in Dallas-Ft. Worth was 112.10 days in December versus 111.79 days in November while in San Antonio, the DOM was 101.40 days in December versus 101.06 days in November. (See Chart 1: Texas New Homes Days on Market)
Texas New Home Sales Data
Total new home sales have slowed last month in Texas' top four new home markets. In Houston, the state’s top new home sales market, total new home sales in December were 1,354 versus 1,481 total sales in November. Dallas-Ft. Worth total new home sales in December were 1,246 total sales versus 1,367 total sales in November. San Antonio total new home sales in December were 532 versus 572 total sales in November. Austin total new home sales in December were 685 versus 749 total sales in November. (See Chart 2: Texas New Home Sales)
Texas New Home Prices
The average new home sales price increased in three of the four biggest new home markets in Texas. In Austin, Dallas-Ft. Worth and San Antonio average new home prices increased. Houston was the lone anomaly, as its average new home sales price decreased in December.
In Austin, the average new home price in December was $372,750 versus $369,715 in November. Dallas-Ft. Worth’s average new home price for December was $376,827 versus $371,769 for November. In San Antonio, the average new home price for December was $298,656 versus $296,284 for November. In Houston, the average new home price was $352,261 in December versus $352,352 in November. (See Chart 3: Texas New Home Prices)
Texas Pending New Homes Sales Data
Pending new home sales continue to decline 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 December of 1,241 versus 1,332 pending sales in November. Dallas-Ft. Worth pending new home sales in December were 1,152 versus 1,245 pending sales in November. Total pending new home sales for Austin in December were 618 versus 669 pending home sales in November. San Antonio pending new home sales in December were 488 versus 520 pending new home sales in November. (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 December set for Monday, January 27, 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 solely 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 – Dec 2019:
https://homesusa.com/wp-content/uploads/2020/01/Chart-1-Texas-Days-on-Market.jpg
Chart 2: Texas New Home Sales – Dec 2019:
https://homesusa.com/wp-content/uploads/2020/01/Chart-2-Texas-New-Home-Sales.jpg
Chart 3: Texas New Home Sales Prices – Dec 2019:
https://homesusa.com/wp-content/uploads/2020/01/Chart-3-Texas-New-Home-Prices.jpg
Chart 4: Texas Pending New Home Sales – Dec 2019:
https://homesusa.com/wp-content/uploads/2020/01/Chart-4-Texas-Pending-New-Home-Sales.jpg