New-home sales decline in Texas’ four-largest markets in August
New-home sales slowed in Texas’ four largest markets last month, according to the latest report from HomesUSA. The three-month average of home sales in Dallas-Fort Worth, Houston, Austin and San Antonio rose to 5,803 in August versus 5,977 in July.
By city, the August three-month moving average of new-home sales in Dallas-Ft. Worth slid to 1,862 from 1,902 in July, while in Houston, it fell to 1,970 from 2,053. In Austin, it fell to 871 from 900, and in San Antonio, it declined to 1,100 from 1,121.
New-home prices, meanwhile, were relatively flat in the state’s largest cities.
In Dallas-Ft. Worth, the three-month moving average price for new homes in August rose to $489,762 from $487,347 in July, and in Houston, it declined to $402,741 from $404,253. In Austin, meanwhile, the average price in August was $494,920, compared to $494,302 in July, and in San Antonio, it was $340,775, compared to $343,616.
“Texas new-home sales were a bit lower in August, but since the beginning of the year, sales are higher, showing how resilient our real estate market is,” HomesUSA CEO Ben Caballero said in a press release. “If the recent improvements in mortgage rates continue, we should see a bump in Texas new-home sales that could counter the traditional seasonal slowdown experienced during the latter months of the year.”
This story was initially posted on Houston Agent Magazine here