‘Signs of strain’ hit DFW new home market amid spring season
New home sales in North Texas fell in March, with DFW seeing lower sales than February.
New home sales and prices in North Texas slid last month and homebuilders in the region are seeing some of the lowest profit margins in the country, according to a couple of recent reports.
New home sales in the Dallas-Fort Worth market totaled 1,738 in March compared with 1,788 sales in February. New home sales last month also were lower in Houston and San Antonio. Only Austin saw a small increase in new home sales last month, according to the most recent monthly Texas New Home Sales Report released by HomesUSA.com and its founder and CEO, Ben Caballero.
The average new home price in DFW was lower month-over-month, declining to $479,298 in March versus $494,145 in February – a drop of nearly $15,000 in one month. DFW remains the state’s most expensive new home market. The second most pricey market last month was Austin, at $474,551.
The speed of sale slowed in North Texas too, with new homes averaging 148.5 days on market in March compared with 144.9 days in February.
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