Nov 2018 –™ New Home Sales Index

The™ New Home Sales Index showed the DOM for new home sales statewide in October was 112.81 days, up from 112.70 days in September. Average new home prices in Dallas-Ft. Worth, Houston, Austin, and San Antonio all increased last month, as the statewide average rose from $355,821 in September to $357,547 in October, the company reported.

The™ Index shows the Days on Market for San Antonio improved from 106.56 days in September, dropping to 105.42 days in October. Dallas-Ft. Worth, the state and nation’s biggest new home market in total sales volume, was unchanged in October at 114.46 days, the same as for September. Austin’s DOM worsened, increasing from 114.28 days in September to 115.48 days in October. (Due to technical issues the Houston Association of Realtors is experiencing, they are unable to provide Days on Market data. This report will be updated when data is provided.)

“Builders clearly remain confident in the continued strength of the Texas housing market as home prices have increased for the second month in all four of our largest new home markets,” said Ben Caballero, owner of™. (See Grid 1: Texas New Homes Days on Market; Chart 1: Texas New Homes Tracking – Days on Market)

The big news once again for October was the increase in the average price of new home sales in Texas for the second consecutive month. In Houston, the average new home price in October was $358,490, up from $357,364 in September. In Austin, the average new home price in October was $368,728, up from $368,125 in September. And in San Antonio, the average new home price in October was $295,322 up from $294,483 in September. (See Grid 2: Texas New Home Sales Prices)

“Texas continues to be the nation’s hottest new homes market,” said Caballero. “Despite signs of stabilizing, 2018 is going to be a record year for new home sales in Texas,” he noted, based on information compiled by™ from local MLS and trade associations, including the Houston Association of REALTORS, North Texas Real Estate Information Systems, San Antonio Board of REALTORS and the Austin Board of REALTORS.

Real estate’s first Guinness World Records holder for home sales1, Caballero, is sharing this Texas new homes data in tandem with this morning’s announcement by the Commerce Department on New Home Sales for October. The Commerce Department issues its nationwide new home construction data at 10:00 am Eastern, Wednesday, November 28, 2018.

Total new home sales were mixed in the four largest new home building markets in Texas last month. Statewide new homes sales for October averaged 3,806 for the month, up from 3,800 for September. New home sales in Dallas-Ft. Worth posted a 12-month rolling average of 1,337 new home sales for October, slightly down from 1,339 home sales for September.  San Antonio also showed a small decrease in new home sales: October new home sales were 512, down slightly from 516 new home sales in September.

New home sales were higher in Houston with 1,280 home sales in October, up from 1,277 home sales in September. In Austin, home sales also were higher last month with 677 sales in October, up from 668 home sales in September. (See Grid 3: Texas New Home Sales)

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