DALLAS, Aug. 19, 2020 (GLOBE NEWSWIRE) -- Total new home sales in Texas bounced higher last month, continuing a rebound in the market according to a report analyzing new homes sales from HomesUSA.com. Home builders also reported a surge in pending sales and slightly fewer Days on Market for new homes sold in July.
The HomesUSA.com report is based on data 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.
“Texas new home sales took a nice bounce up last month,” said Ben Caballero, CEO of HomesUSA.com and a current Guinness World Record title holder. “Coupled with a surge in pending sales in every major new home market in July, we can expect this strong sales trend to continue.”
The HomeUSA.com New Home Sales Index shows the Days on Market (DOM) average in Texas was 102.50 days in July versus 102.87 days in June. The New Home Sales Index showed improvement in the pace of new sales in Texas for the last twelve months straight.
Sales and pending sales of New homes in July were higher in all four biggest new home markets in Texas – Houston, Dallas-Fort Worth, Austin and San Antonio.
According to the 12-month moving average, July new home sales in Texas were higher, averaging 4,176 versus 4,062 in June. Houston posted July sales totaling 1,411 versus 1,373 in June. In Dallas-Ft. Worth, July sales totaled 1,495 versus 1,453 in June, while Austin’s July sales totaled 687 versus 676 in June. San Antonio July sales totaled 584 versus 561 in June.
Caballero is sharing this Texas new homes report in advance of the release by the Commerce Department of its nationwide New Residential Sales report for July set for Wednesday, August 26, at 10:00 am Eastern.
Days on Market – New Homes in Texas (Exclusive Data)
New home sales improved statewide as homes were on the market fewer days in Texas’ four largest markets. According to the HomesUSA.com New Home Sales Index, the DOM for Houston was 114.92 days in July versus 114.96 days in June. In Dallas-Ft. Worth, the DOM in July was 96.81 days versus 97.21 days in June. Austin's DOM in July was 95.68 days versus 96.69 days in June. In San Antonio, the DOM in July was 94.67 days versus 94.95 days in June. (See Chart 1: Texas New Homes Days on Market)
Texas New Home Sales Data
Sales of new homes bounced higher statewide and in all four major markets. In Houston, total new home sales in July were 1,411 versus 1,373 in June. Dallas-Ft. Worth's total new home sales in July were 1,495 versus 1,453 in June. Austin's total new home sales in July were 687 versus 676 in June. In San Antonio, total new home sales in July were 584 versus 561 in June. (See Chart 2: Texas New Home Sales)
Texas New Home Prices
While the average new home price was higher statewide and in three of the four largest markets, including Houston, Austin and San Antonio, the average price was once again lower in Dallas-Ft. Worth. In Houston, the average new home price was $348,543 in July versus $347,120 in June. Austin's average price was $382,280 in July versus $380,086 in June. In San Antonio, the average price was $297,448 in July versus $296,813 in June. Dallas-Ft. Worth reported its average price was $370,209 in July versus $370,483 in June. (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 in July. The 12-month moving average of the July sales-to-list price ratio for new homes in Texas was 98.067 percent of the asking price versus 98.057 percent in June. In Houston, it was 97.696 percent in July versus 97.666 percent in June. In Dallas-Ft. Worth, it was 97.927 percent in July versus 97.920 percent in June. The July ratio in Austin was 98.772 percent versus 98.770 in June, and San Antonio's July ratio was 98.510 percent versus 98.525 percent in June. (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 July statewide and in all of the state's top new home markets. Pending sales in Texas were 5,237 in July versus 5,071 in June. In Houston, July's pending sales were 1,744 versus 1,685 in June. In Dallas-Ft. Worth, it was 1,825 in July versus 1,771 in June. In Austin, it was 899 in July versus 868 in June, and in San Antonio, it was 770 versus 747 in June. (See Chart 5: 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 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.
"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
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Individual Chart images:
Chart 1: Texas New Homes Tracking - Days on Market – July 2020:
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Chart 2: Texas New Home Sales – July 2020:
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Chart 3: Texas New Home Sales Prices – July 2020:
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Chart 4: Texas Sales-to-List-Price Ratio – July 2020:
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Chart 5: Texas Pending New Home Sales – July 2020:
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Chart 6: Texas 3-Month Rolling Averages – New Homes – July 2020:
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