A release from HomesUSA.com was incorrectly distributed by
GlobeNewswire. The corrected release follows.
Texas new home sales up over 9% last
month as buying season finally begins
HomesUSA.com reports new home prices tick higher
in April
Texas new home sales were up 9% last month, according to the
newest monthly Texas New Home Sales Report released today by
HomesUSA.com and its founder and CEO, Ben Caballero, the
nation's top-ranked real estate agent.
April new home sales in Dallas-Ft. Worth, Houston, Austin, and
San Antonio combined were up 9.4%, with a 3-month average of 5,899
sales versus 5,393 sales in March. Each individual market also
posted higher new home sales.
The HomesUSA.com New Home Sales Report uses Multiple
Listing Service data – the most comprehensive, current, and
accurate information – from the Realtor Associations of North
Texas, Houston, Austin, and San Antonio.
The 3-month new home sales average for Dallas-Ft. Worth was
1,892 versus March at 1,717. Houston’s sales were 2,036 versus
1,848 in March. Austin posted new home sales of 917 for April
versus 850 in March, and San Antonio’s April average sales were
1,054 versus 978 in March. Significantly, it was the first time San
Antonio’s new home sales monthly average topped 1,000 since
HomesUSA.com started its monthly reporting in 2017.
Despite the uptick in new home sales, Ben Caballero, America's
No. 1-ranked real estate agent and CEO and founder of HomesUSA.com,
remains cautious about this sales season.
"While new home sales ticked higher in April, May numbers will
tell us if seasonality arrived late – or if April’s numbers were a
fake out. Higher mortgage rates are not helping,” said Ben
Caballero, America's No. 1-ranked real estate agent and CEO and
founder of HomesUSA.com. “New home sales performance last month is
a result of the enduring strength of our Texas economy and our
state’s ability to attract new employers,” he added.
According to the HomesUSA.com New Home Sales Index’s 3-month
average, Days on Market continue to remain steady, indicating
builders’ effort to balance supply with demand. The four leading
Texas new home sales markets – Dallas-Ft. Worth, Houston, Austin
and San Antonio – reported a slightly higher 3-month average for
the DOM in April of 112.25 days versus 110.26 days in March.
Texas spring home buyers faced higher average prices in April.
The 3-month new home price average for the four largest new home
markets combined was $436,083 in April versus $428,682 in March as
average new home prices rose in each market Home prices were higher
in Dallas-Ft. Worth ($475,516 versus $473,399), Houston ($405,602
versus $397,315), San Antonio ($348,830 versus $338,211) and Austin
($522,799 versus $509,847). Austin home prices have been rising
since January.
The average 3-month pending sales rose marginally in the four
largest Texas new home markets totaling 7,083 versus 6,943 in
March. “This is disappointing as pending sales are indicator of
future closings,” noted Caballero.
While active new home listings are up over 28% since September
2023, the April 3-month average active listings inventory in Texas’
four major new home markets was flat: 29,495 versus 29,421 in
March.
HomesUSA.com is sharing its New Home Sales
Report and New Home Sales Index before the Commerce
Department releases its nationwide New Residential Sales
Report for April, set for Thursday, May 23, 2024, at 10:00 am
Eastern time.
The HomesUSA.com monthly report covers closed sales recorded in
MLSs by the 10th day of the following month. Sales reported by
agents after the 10th of the month are not included. The report
features 3-month and 12-month moving averages for six essential
market data, including Days on Market, sales volume, sales prices,
a sales-to-list price ratio, pending sales, and active listings.
Caballero explained the 3-month moving average indices track market
seasonality, while the 12-month moving average removes the
seasonality and tracks the longer trend.
Days on Market Trends Higher – New Homes in Texas
(Exclusive Data) The HomesUSA.com New Home Sales Index
showed the 3-month moving average of Days on Market (DOM) in April
increased in three of the four major new home markets in Texas. In
Dallas-Ft. Worth, the DOM increased to 142.24 days versus 138.65
days in March. Houston’s DOM was 97.98 days versus 97.89 days in
March. In San Antonio, the DOM was 95.90 days versus 90.11 days in
March. Austin was the exception, as the DOM decreased to 101.31
days versus 103.17 days in March. New homes have significantly
higher Days on Market or DOM than existing homes because most are
listed while under construction. (See Chart 1: Texas New Homes Days
on Market)
Texas New Home Sales Tick HigherBased on all
local MLS data, the most reliable and current source of all home
sales activity, total new home sales were higher in all four of
Texas' largest new home markets last month. The April 3-month
moving average of new home sales in Dallas-Ft. Worth was 1,892
versus 1,717 in March. In Houston, April’s total sales were higher
at 2,036 versus 1,848 in March. Austin's new home sales last month
were also higher at 917 versus 850 in March. In San Antonio, new
home sales in April were 1,054 versus 978 in March. (See Chart 2:
Texas New Home Sales)
Texas New Home Prices Steadily IncreaseThe
average prices of new homes increased overall in Texas last month.
In Dallas-Ft. Worth, the 3-month moving average price for new homes
in April was $475,516 versus $473,399 in March. In Houston, the
average new home price in April was $405,602 versus $397,315 in
March. In Austin, the 3-month moving average price increased in
April to $522,799 versus $509,847 in March. San Antonio's average
new home price was also higher in April at $348,830 versus $338,211
in March. (See Chart 3: Texas New Home Prices)
Texas Sales-to-List Price Ratio Remain
StableCumulative new home sales remain slightly lower than
100 percent of the asking price. The combined 3-month moving
average of the sales-to-list price ratio in Texas’ four largest
markets for April was 97.35 versus 97.48 percent a year ago and
97.22 percent in March this year. Dallas-Ft. Worth’s ratio in April
was 97.72 versus 97.73 percent last April and 97.54 percent in
March this year. In Houston, the ratio in April was 96.62 versus
97.41 percent last April and 96.89 percent in March this year. In
Austin, the sales-to-price ratio in April was 97.77 versus 96.95
percent last April and 97.33 percent in March this year. San
Antonio's ratio in April was 97.75 versus 97.55 percent a year ago
and 97.20 in March this year. (See Chart 4: Texas Sales-to-List
Price Ratio)
Texas Pending New Homes Sales Continue To
ImproveBased on local MLS data, pending new home sales
continued to improve last month, as the average 3-month pending
sales were higher in three of the four largest Texas new home
markets. The combined four-market average in April totaled 7,083
versus 6,943 in March. In Dallas-Ft. Worth, pending new home sales
last month were 2,497 versus 2,484 in March. In Houston, pending
new home sales in April increased to 2,176 versus 2,064 in March.
In Austin, pending new home sales in April were higher at 1,399
versus 1,340 in March. San Antonio was the anomaly, as pending
sales were lower last month at 1,012 versus 1,054 in March. (See
Chart 5: Texas Pending New Home Sales)
Texas Active Listings for New Homes ReboundAs
existing home listing inventory has gone up 28 percent since last
September, active new home listings rose in three of the four
largest Texas new home markets in April. The April 3-month average
active listings inventory in Texas’ four major new home markets was
29,495 new homes versus 29,421 in March. Dallas-Ft. Worth's active
listings in April increased to 6,650 versus 6,551 in March. Active
listings in Houston last month also increased to 12,247 versus
12,225 in March. In Austin, active listings in April were also
higher at 5,701 versus 5,661 in March. San Antonio was the
exception, as active listings last month decreased to 4,896 versus
4,984 in March. (See Chart 6: Texas Active Listings)
About the HomesUSA.com New Home Sales IndexThe
HomesUSA.com Index is reported as both a 3-month and 12-month
moving average of the Days on Market (DOM) for new homes listed in
the local Multiple Listing Services (MLSs) for Dallas-Ft. Worth,
Houston, Austin, and San Antonio. Created by Ben Caballero, it is
the first Days on Market index to track the Texas new home market
and includes homes listed while under construction. (See Chart A:
12-Month Moving Averages)
*Note: Texas data denotes a combination of its four largest new
home markets – Houston, Dallas-Ft. Worth, Austin, and San Antonio –
which comprise the vast majority of new home sales and MLS data
statewide.
About Ben Caballero and HomesUSA.com®Ben
Caballero, founder and CEO of HomesUSA.com, is a three-time
Guinness World Record title holder for ‘Most annual home sale
transactions through MLS by an individual sell-side real estate
agent – current.’ 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 individual real
estate agent to exceed $3 billion in residential sales transactions
in a single year (2022), the first agent to exceed $2 billion
(2018, 2019, 2020), and the first agent to exceed $1 billion (2015,
2016, 2017). Ben, an award-winning innovator and technology
pioneer, 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 Podcasts. Learn more at HomesUSA.com
|Twitter: @bcaballero - @HomesUSA | Facebook: /HomesUSAdotcom.
Note for journalists: You may contact Ben Caballero directly by
email at ben@homesusa.com.
REALTOR® is a federally registered collective membership mark
which identifies a real estate professional who is a member of the
NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code
of Ethics.
Media Contact:Kevin Hawkins(206)
866-1220kevin@wavgroup.com
Image: Ben Caballero
(2023)https://homesusa.com/wp-content/uploads/2023/04/Ben_Caballero_1-scaled.jpg
Individual Chart images:
Chart 1: Texas New Homes Tracking – Days on Market –
April 2024:
https://www.homesusa.com/wp-content/uploads/2024/05/Chart-1-Texas-New-Homes-Tracking-Days-on-Market-1.jpg
Chart 2: Texas New Home Sales Market – April
2024:
https://homesusa.com/wp-content/uploads/2024/05/Chart-2-Texas-New-Home-Sales-Market.jpg
Chart 3: Texas New Home Sales Prices Market – April
2024:
https://homesusa.com/wp-content/uploads/2024/05/Chart-3-Texas-New-Home-Sales-Prices-Market.jpg
Chart 4: Texas Sales-to-List-Price Ratio Market – April
2024:
https://homesusa.com/wp-content/uploads/2024/05/Chart-4-Texas-Sales-to-List-Price-Ratio-Market.jpg
Chart 5: Texas Pending New Home Sales Market – April
2024:
https://homesusa.com/wp-content/uploads/2024/05/Chart-5-Texas-Pending-New-Home-Sales-Market.jpg
Chart 6: Texas Active Listings for New Home Market –
April 2024:
https://homesusa.com/wp-content/uploads/2024/05/Chart-6-Texas-Active-Listings-for-New-Homes-Market.jpg
Chart A: Texas 12-Month Moving Averages Market – April
2024:
https://homesusa.com/wp-content/uploads/2024/05/Chart-A-12MonthChart-DataOnly.jpg