Texas New Home Sales Rise as 2020 Outlook Brightens | Financial Buzz

Texas New Home Sales Rise as 2020 Outlook Brightens

DALLAS, Feb. 20, 2020 (GLOBE NEWSWIRE) — New home sales throughout Texas rose last month and they sold faster, according to a new homes sales report from HomesUSA.com. Average monthly new home sales were up in all four of the state’s largest new home markets, including Houston, Dallas-Ft. Worth, Austin and San Antonio.

In January, Texas reported a 12-month rolling average of 4,030 new home sales statewide, up from 3,981 sales in December. The HomesUSA.com report is based on refined 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.

According to the HomesUSA.com New Home Sales Index, the sales pace of new homes improved last month as the Days on Market (DOM) average in Texas was 106.96 days in January versus 107.73 days in December. The four major new home markets in the state all saw a decline in their monthly DOM, the HomesUSA.com New Home Sales Index showed.

“Texas new home sales are starting the year off strong,” said Ben Caballero, owner of HomesUSA.com and a current Guinness World Record title holder. “Statewide builders received good news across the board: more new homes were sold, they sold faster and prices were stable. This positions Texas builders well for a robust 2020 new homes sales market,” he added.

The average sales price of a new home remained stable statewide in January. In Texas, the 12-month rolling average sales price of a new home in January was $354,367 versus $354,356 in December. New home sales prices were marginally higher in three of the four biggest new home markets in Texas, including Dallas-Ft. Worth, Austin and San Antonio. Only Houston posted a slightly lower average new home sales price in January.

Caballero notes that HomesUSA.com is improving its monthly housing report’s accuracy by removing listings with Zip codes outside each market area; removing listings with a sales-to-list price greater than 20 percent (to avoid including non-arm’s length sales); and removing  homes that were listed as new construction but were not. The company also is adding 3-month rolling averages to its monthly new homes report.

Caballero is sharing the 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 Wednesday, February 26, at 10:00 am Eastern.

Days on Market – New Homes in Texas (Exclusive Data)
All four of the state’s biggest new home markets registered fewer Days on Market in January vs. December, according to the HomesUSA.com New Home Sales Index. In Houston, the average DOM decreased to 118.21 days versus 118.96. Dallas-Ft. Worth the DOM was 101.09 versus 101.49. Austin was 103.83 versus 105.16, while in San Antonio it was 99.46 days versus 100.58. (See Chart 1: Texas New Homes Days on Market)

Texas New Home Sales Data
Total new home sales also improved in all four of Texas’s major new home markets. In Houston, the state’s top new home sales market January sales were 1,319 versus 1,305 in December. Dallas-Ft. Worth’s sales were 1,452 versus 1,428. San Antonio’s sales were 577 versus 573. Austin’s sales were 682 versus 676 in December. (See Chart 2: Texas New Home Sales)

Texas New Home Prices
The average new home sales prices were up slightly in three of the four biggest new home markets in Texas. In Austin, Dallas-Ft. Worth and San Antonio average new home prices increased, while Houston saw its average new home sales price decrease slightly in January.

In Dallas-Ft. Worth’s average new home price for January was $372,812 versus $372,805 for December.  The average new home price for Austin was $374,705 versus $374,450. In San Antonio, the average new home price was $299,183 versus $299,170. The average new home price for Houston was $347,706 versus $348,061. (See Chart 3: Texas New Home Prices)

Texas Pending New Homes Sales Data
Pending new home sales continue to decline in all Texas’ top new home markets last month. Houston posted January pending sales of 1,051 versus 1,118 in December. Dallas-Ft. Worth’s pending sales were 1,249 versus 1,320. Austin’s pending sales were 642 versus 696, and San Antonio’s pending sales were 434 versus 464. (See Chart 4: Texas Pending New Home Sales)

New: Sales-to-List-Price Ratio Data for Texas New Homes
HomesUSA.com is adding a new chart for 2020 that tracks the change between the original sales price when a home was first listed for sale and the final price when it was sold. In January, the 12-month rolling average of sales-to-list-price ratio for new homes sold in Texas was 97.954 percent versus 97.935 percent in December.

The average sales-to-list-price ratio for Houston in January was 97.530 percent versus 97.529 percent in December. In Dallas-Ft. Worth, the sales-to-list-price ratio was 97.846 percent versus 97.836 percent. The average sales-to-list-price ratio for Austin was 98.664 percent versus 98.636 percent. In San Antonio, the average sales-to-list-price ratio was 98.355 percent versus 98.275 percent. (See Chart 5: Texas Sales-to-List-Price Ratio)

About the HomesUSA.com New Home Sales Index
The HomesUSA.com New Home Sales 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 solely track the sale pace of new home sales.

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 – Jan 2020:
https://homesusa.com/wp-content/uploads/2020/02/Chart-1-Texas-Days-on-Market.jpg

Chart 2: Texas New Home Sales – Jan 2020:
https://homesusa.com/wp-content/uploads/2020/02/Chart-2-Texas-New-Home-Sales.jpg

Chart 3: Texas New Home Sales Prices – Jan 2020:
https://homesusa.com/wp-content/uploads/2020/02/Chart-3-Texas-New-Home-Prices.jpg

Chart 4: Texas Pending New Home Sales – Jan 2020:
https://homesusa.com/wp-content/uploads/2020/02/Chart-4-Texas-Pending-New-Home-Sales.jpg

Chart 5: Texas Sales-to-List-Price Ratio – Jan 2020:
https://homesusa.com/wp-content/uploads/2020/02/Chart-5-Texas-Sales-to-List-Price-Ratio.jpg

Chart 6: Texas 3-Month Rolling Averages – New Homes
https://homesusa.com/wp-content/uploads/2020/02/3MonthChart-DataOnly.jpg

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1c96ef65-d253-46df-8e88-717f6550f085

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