DALLAS, July 21, 2020 (GLOBE NEWSWIRE) -- Total new home sales in Texas rebounded last month, reflecting a market turnaround, according to a report analyzing new homes sales from HomesUSA.com. Home builders also reported a jump in pending sales and fewer Days on Market for new homes sold in June.
The HomesUSA.com report is based on data from the North Texas Real Estate Information Systems, Houston Association of REALTORS, San Antonio Board of REALTORS and the Austin Board of REALTORS Multiple Listing Services.
“Texas new home sales noticeably accelerated in June,” said Ben Caballero, owner of HomesUSA.com and a current Guinness World Record title holder, “and home demand is growing as buyers push pending sales higher.”
“New homes prices also are rebounding a bit, as the average new home price in Texas was slightly higher in June after dropping in May,” he added, noting the sales pace of homes increased statewide as well as the number of Days on Market fell.
The HomeUSA.com New Home Sales Index shows the Days on Market (DOM) average in Texas was 102.87 days in June versus 103.22 days in May. For the last nine months straight, the Texas New Home Sales Index showed improvement.
New home sales and pending home sales in June were higher in all four biggest new home markets in Texas – Dallas-Fort Worth, Houston, Austin and San Antonio.
According to the 12-month moving average, June new home sales in Texas were higher, averaging 4,062 versus 3,958 in May. Houston posted June sales totaling 1,373 versus 1,342 in May. In Dallas-Ft. Worth, June sales totaled 1,453 versus 1,412 in May, while Austin’s June sales totaled 676 versus 664 in May. San Antonio June sales totaled 561 versus 540 in May.
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 June set for Friday, July 24, at 10:00 am Eastern.
Days on Market – New Homes in Texas (Exclusive Data)
New home sales improve statewide as homes were on the market fewer days. Locally, the Days on Market data was mixed, according to the HomesUSA.com New Home Sales Index. The DOM for Houston was 114.96 days in June versus 114.65 days in May. In San Antonio, the DOM in June was 94.95 days versus 94.76 days in May. In Dallas-Ft. Worth, the DOM in June was 97.21 days versus 97.61 days in May. Austin's DOM in June was 96.69 days versus 98.65 days in May. (See Chart 1: Texas New Homes Days on Market)
Texas New Home Sales Data
Sales of new homes jumped statewide and in all four major markets. In Houston, total new home sales in June were 1,373 versus 1,342 in May. Dallas-Ft. Worth's total new home sales in June were 1,453 versus 1,412 in May. Austin's total new home sales in June were 676 versus 664 in May. In San Antonio, total new home sales in June were 561 versus 540 in May. (See Chart 2: Texas New Home Sales)
Texas New Home Prices
While the average new home price was higher statewide as well as in Houston and Austin, it was lower in Dallas-Ft. Worth and San Antonio. In Houston, the average new home price was $347,120 in June versus $346,827 in May. Austin's average price was $380,086 in June versus $378,610 in May. Dallas-Ft. Worth reported its average price was $370,483 in June versus $371,025 in May. In San Antonio, the average price was $296,813 in June versus $297,110 in May. (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 June. The 12-month moving average of the June sales-to-list price ratio for new homes in Texas was 98.057 percent of the asking price versus 98.048 percent in May. In Houston, it was 97.666 percent versus 97.653 percent in May. In Dallas-Ft. Worth, it was 97.920 percent, the same as in May. The June ratio in Austin was 98.770 percent versus 98.747 in May, and San Antonio's June ratio was 98.525 percent versus 98.518 percent in May. (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 in June was higher statewide and in all of the state's top new home markets. Pending sales in Texas went from 4,761 in May to 5,004 in June. In Houston, June's pending sales were 1,652 versus 1,574 in May. In, Dallas-Ft. Worth it was 1,737 versus 1,653 in May. In Austin, it was 869 versus 827 in May, and in San Antonio, it was 746 versus 706 in May. (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.
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 – June 2020:
https://homesusa.com/wp-content/uploads/2020/07/Chart-1-Texas-Days-on-Market.jpg
Chart 2: Texas New Home Sales – June 2020:
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Chart 3: Texas New Home Sales Prices – June 2020:
https://homesusa.com/wp-content/uploads/2020/07/Chart-3-Texas-New-Home-Prices.jpg
Chart 4: Texas Sales-to-List-Price Ratio – June 2020:
https://homesusa.com/wp-content/uploads/2020/07/Chart-4-Texas-Sales-to-List-Price-Ratio.jpg
Chart 5: Texas Pending New Home Sales – June 2020:
https://homesusa.com/wp-content/uploads/2020/07/Chart-5-Texas-Pending-New-Home-Sales.jpg
Chart 6: Texas 3-Month Rolling Averages – New Homes – June 2020:
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