TEXAS NEW HOME PRICES INCREASE, SALES PACE SHOW SIGNS OF SLOWING
HomesUSA.com® Index Shows “Days on Market” Nearly Flat, Sales Still Solid
Dallas, Texas – July 26, 2017 – (RealEstateRama) — New home sales prices are increasing, and the pace of new home sales are showing signs of slowing in the four largest homebuilding markets in Texas, but total new home sales remain solid, according to the HomesUSA.com® New Homes Sales Index and other new home sales data released today.
The rate of new home sales in three of these four markets were either flat or showed marginal improvement, according to the HomesUSA.com New Home Sales Index for June, with Houston being the one exception. In the state’s largest homebuilding market, the total Days on Market for new homes fell from 135.28 days in May, to 134.28 days in June, the biggest improvement in the state last month and the only market in Texas to show a significantly faster new home sales pace for June versus May.
Austin’s new home sales pace was unchanged at 112.68 days in June. San Antonio’s new home sales pace showed only a slight improvement, with its Days on Market 12-month rolling average decreasing from 106.89 days in May, to 106.26 days in June. In Dallas-Ft. Worth, the pace of new home sales also was relatively flat, with the total Days on Market being 121.94 days in May, and 121.79 days in June.
Overall, in the largest sales markets in Texas, the rate of new home sales showed a small improvement in June, according to HomesUSA.com, as the average number of Days on Market declined from 122.96 days to 122.52 days.