DALLAS, March 18, 2020 (GLOBE NEWSWIRE) -- Annual new home sales in Texas hit record levels in February as both the sales pace and average sale price of new homes rose throughout the state last month. Average monthly new home sales in Houston, Dallas-Ft. Worth, Austin and San Antonio, all reported their highest levels in the last year, according to the new homes sales report from HomesUSA.com.
In February, Texas reported a 12-month rolling average of 4,081 new home sales statewide, up from 4,030 sales in January. The HomesUSA.com report is based on refined 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 came roaring back in February,” said Ben Caballero, owner of HomesUSA.com and a current Guinness World Record title holder. “There was good news for builders in the top four markets as new home sales set records, sold faster and at a higher average sales price in Houston, Dallas-Ft. Worth, Austin and San Antonio.”
According to the HomeUSA.com New Home Sales Index, which is based on a 12-month rolling average, the Days on Market (DOM) in Texas was 106.21 days in February versus 106.96 days in January. Homes sold faster in every major new home market.
The average sales price of a new home was higher statewide in February. In Texas, the 12-month rolling average sales price of a new home was $355,400 in February, an increase from $354,367 in January. New home sales prices were higher in all four of the biggest new home markets in Texas – Houston, Dallas-Fort Worth, Austin and San Antonio.
“Texas’ new homes market is once again red-hot,” added Caballero.
He notes that pending new home sales continues to be a soft spot in the HomesUSA.com report. Last month, pending new home sales were down statewide, the 12-month rolling average dropping from 3,578 pending sales in January to 3,296 in February.
Days on Market – New Homes in Texas (Exclusive Data)
The sales pace increased in all four of the state’s top home markets as each reported fewer Days on Market, according to the HomesUSA.com New Home Sales Index, which is based on a 12-month rolling average. The DOM for Houston was 116.94 days in February versus 118.21 days in January. In Dallas-Ft. Worth, the DOM in February was 100.68 days versus 101.09 days in January. Austin reported its DOM in February was 103.20 days versus 103.83 days in January. In San Antonio, the DOM in February was 98.80 days versus 99.46 days in January. (See Chart 1: Texas New Homes Days on Market)
Texas New Home Sales Data
Total new home sales hit a record 12-month high in the state’s top four new home markets. In Houston, the state’s biggest new home sales market, the 12-month rolling average for total new home sales in February was 1,338 versus 1,319 in January. Dallas-Ft. Worth total new home sales in February were 1,474 versus 1,452 in January. Austin total new home sales in February were 688 versus 682 in January. In San Antonio, total new home sales in February were 581 versus 577 in January. (See Chart 2: Texas New Home Sales)
Texas New Home Prices
The 12-month rolling average new home sales price was higher in all four of the state’s largest new home markets: Houston, Dallas-Ft. Worth, Austin and San Antonio.
In Houston, the average new home price was $348,618 in February versus $347,706 in January, based on a 12-month rolling average. Dallas-Ft. Worth reported its average new home price was $372,948 in February versus $372,812 in January. Austin’s average new home was $377,111 in February versus $374,705 in January. In San Antonio, the average new home price was $300,839 in February versus $299,183 in January. (See Chart 3: Texas New Home Prices)
Texas Pending New Homes Sales Data
Pending new home sales continue to post lower numbers in all of the state's top new home markets last month. In Dallas-Ft. Worth the 12-month rolling average for pending new home sales in February was 1,212 versus 1,313 in January. Houston pending new home sales in February were 1,027 versus 1,112 in January. Total pending sales for Austin in February were 623 versus 684 in January. In San Antonio, pending new home sales in February were 434 versus 469 in January. (See Chart 4: Texas Pending New Home Sales)
Sales-to-List-Price Ratio Data for Texas New Homes
HomesUSA.com's new chart for 2020 tracks the change between the original list price for the home and its sales price. In February, the 12-month rolling average of sales-to-list-price ratio for new homes sold in Texas was 97.982 percent versus 97.954 percent in January.
The average sales-to-list-price ratio for Houston in February was 97.551 percent versus 97.530 percent in January. In Dallas-Ft. Worth, the sales-to-list-price ratio was 97.870 percent in February versus 97.846 percent in January. The average sales-to-list-price ratio for Austin was 98.711 percent in February versus 98.664 percent in January. In San Antonio, the average sales-to-list-price ratio was 98.404 percent in February versus 98.355 percent in January. (See Chart 5: Texas Sales-to-List-Price Ratio)
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 February set for Tuesday, March 24, at 10:00 am Eastern.
*Note: The highest levels of new home sales in Texas previously reported was last November, before HomesUSA.com revised its data collection process to improve data accuracy by removing improper listings. The record for monthly new homes sales for Texas reported prior to revising the data was a 12-month rolling average of 4,168 in November, up from 4,162 sales in October. These statewide numbers have since been revised to 4,014 homes sales in November 2019 and 4,004 home sales in October 2019.
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
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Individual Chart images:
Chart 1: Texas New Homes Tracking - Days on Market – Feb 2020:
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Chart 2: Texas New Home Sales – Feb 2020:
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Chart 3: Texas New Home Sales Prices – Feb 2020:
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Chart 4: Texas Pending New Home Sales – Feb 2020:
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Chart 5: Texas Sales-to-List-Price Ratio – Feb 2020:
https://homesusa.com/wp-content/uploads/2020/03/Chart-5-Texas-Sales-to-List-Price-Ratio.jpg
Chart 6: Texas 3-Month Rolling Averages – New Homes – Feb 2020:
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