DALLAS, Sept. 22, 2020 (GLOBE NEWSWIRE) -- Total new home sales in Texas hit record levels last month statewide and in all four of its major new homes markets, according to a new report from HomesUSA.com. New home sales reached annual highs in Dallas-Ft. Worth, Houston, Austin and San Antonio. Home builders also saw a surge in pending sales and fewer Days on Market for new homes sold in August.
The HomesUSA.com report is based on data from the North Texas Real Estate Information Systems, Houston Association of REALTORS, Austin Board of REALTORS Multiple Listing Services and San Antonio Board of REALTORS.
“Texas new home sales jumped to record year-to-date levels last month,” said Ben Caballero, owner of HomesUSA.com and a current Guinness World Record title holder. “By every measure, new home sales were remarkably robust in August in Dallas-Ft. Worth, Houston, Austin and San Antonio. Pending sales also reached record annual levels throughout Texas, which is spectacular news for home builders, and demonstrates the incredible strength of our housing market.”
For the last twelve months straight the velocity of new home sales improved with average Days on Market (DOM) dropping to 101.60 days in August from 102.50 days in July.
New home sales and pending home sales in August were higher in all four of the state’s biggest new home markets – Houston, Dallas-Fort Worth, Austin and San Antonio.
According to the 12-month moving average, August statewide new home sales were higher, averaging 4,219 versus 4,176 in July. In Dallas-Ft. Worth, August sales totaled 1,505 versus 1,495 in July. Houston posted August sales totaling 1,421 versus 1,411 in July, while Austin’s August sales totaled 697 versus 687 in July. San Antonio August sales totaled 595 versus 584 in July.
HomesUSA.com notes that active listings show the continued tightening of inventory, with active listings declining from 20,123 statewide in July to 19,843 in August.
Caballero is sharing this new homes report in advance of the release by the Commerce Department of its nationwide New Residential Sales report for August set for Thursday, September 24, at 10:00 am Eastern.
Days on Market – New Homes in Texas (Exclusive Data)
New home sold faster statewide last month as Days on Market dropped for new homes sales in Dallas-Ft. Worth, Houston, Austin and San Antonio. According to the HomesUSA.com New Home Sales Index, the DOM for Dallas-Ft. Worth was 95.95 days in August versus 96.81 days in July. In Houston, the DOM was 114 days in August versus 114.92 days in July. Austin's DOM was 94.40 days in August versus 95.68 days in July. In San Antonio, the DOM was 94.11 days in August versus 94.67 days in July. (See Chart 1: Texas New Homes Days on Market)
Texas New Home Sales Data
Sales of new homes hit record annual levels statewide and in all four major markets. In Dallas-Ft. Worth, total new home sales in August were 1,505 versus 1,495 in July. Houston total new home sales were 1,421 in August versus 1,411 in July. Austin's total new home sales were 697 in August versus 687 in July. In San Antonio, total new home sales were 595 in August versus 584 in July. (See Chart 2: Texas New Home Sales)
Texas New Home Prices
While the average new home price last month was slightly higher, that was not the case for all markets. For the state’s two biggest new homes markets -- Dallas-Ft. Worth and Houston -- the average price was relatively flat. The average new home price in Austin and San Antonio was higher. Dallas-Ft. Worth reported its average price was $369,986 in August versus $370,209 in July. In Houston, the average new home price was $348,047 in August versus $348,543 in July. Austin's average price was $387,588 in August versus $382,280 in July. In San Antonio, the average price was $297,654 in August versus $297,448 in July. (See Chart 3: Texas New Home Prices)
Texas Sales-to-List Price Ratio
Sales prices as a percent of their list prices were relatively flat again last month. The 12-month moving average of the August sales-to-list price ratio for new homes statewide was 98.084 percent of the asking price versus 98.067 percent in July. In Dallas-Ft. Worth, it was 97.948 percent in August versus 97.927 percent in July. In Houston, it was 97.729 percent in August versus 97.696 percent in July. The Austin ratio was 98.787 percent in August versus 98.772 percent in July, and San Antonio's ratio was 98.478 percent in August versus 98.510 percent in July. (See Chart 4: Texas Sales-to-List Price Ratio)
Texas Pending New Homes Sales Data
The 12-month rolling average for pending new home sales surged in August statewide and in all of the state's top new home markets. Pending sales in Texas went from 5,203 in July to 5,408 in August. In Dallas-Ft. Worth, it was 1,878 in August versus 1,813 in July. In Houston, August's pending sales were 1,794 versus 1,727 in July. In Austin, it was 934 in August versus 896 in July, and in San Antonio, it was 802 in August versus 767 in July. (See Chart 5: Texas Pending New Home Sales)
Texas Active Listings for New Homes
The 12-month rolling average for active listings new home sales fell in August across the board. Active listings statewide went from 20,123 in July to 19,843 in August. In Dallas-Ft. Worth, it was 7,224 in July versus 7,109 in August and in Austin, it was 3,937 in July versus 3887 in August. In Houston, July’s Active Listings were 8,962 versus 8,847 in August. (There is no data currently available for San Antonio) (See Chart 6: Texas Pending New Home Sales)
About the HomesUSA.com New Home Sales Index
The HomesUSA.com Index is a 12-month moving 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 Texas’ new home market 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.
"REALTOR® is a federally registered collective membership mark which identifies a real estate professional who is member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics."
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 – August 2020: https://homesusa.com/wp-content/uploads/2020/09/Chart-1-Texas-Days-on-Market.jpg
Chart 2: Texas New Home Sales – August 2020: https://homesusa.com/wp-content/uploads/2020/09/Chart-2-Texas-New-Home-Sales.jpg
Chart 3: Texas New Home Sales Prices – August 2020: https://homesusa.com/wp-content/uploads/2020/09/Chart-3-Texas-New-Home-Prices.jpg
Chart 4: Texas Sales-to-List-Price Ratio – August 2020: https://homesusa.com/wp-content/uploads/2020/09/Chart-4-Texas-Sales-to-List-Price-Ratio.jpg
Chart 5: Texas Pending New Home Sales – August 2020: https://homesusa.com/wp-content/uploads/2020/09/Chart-5-Texas-Pending-New-Home-Sales.jpg
Chart 6: Texas Active Listings for New Homes – August 2020: https://homesusa.com/wp-content/uploads/2020/09/Chart-6-Texas-Active-Listings.jpg
Chart 7: Texas 3-Month Rolling Averages – New Homes – August 2020: https://homesusa.com/wp-content/uploads/2020/09/Chart-7-3MonthChart-DataOnly.jpg