HomesUSA.com report also reveals higher prices and Days on Market
Written by Kevin Hawkins
Dallas-Ft. Worth’s new home sales were higher last month and year-over-year are 20% greater than December 2023, 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.
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.
According to the 3-month moving average for Dallas-Ft. Worth, sales were 1,990 in December versus 1,872 in November. It was the first time since June 2023 that the monthly average new home sales was higher than 1,990.
“Dallas-Ft. Worth new home sales ended on a high note, driven by builders prioritizing year-end closings to meet production-based bonus goals,” said Ben Caballero, founder and CEO of HomesUSA.com.
“And though prices were higher, builders demonstrated their resilience in meeting healthy market demand, making 2024 a solid year for Dallas-Ft. Worth new home sales performance despite interest rates,” Caballero added.
According to HomesUSA.com’s analysis of December new homes data, Dallas-Ft. Worth reported higher Days on Market in December, meaning it’s taking a bit longer for new homes to sell. The 3-month average of Days on the Market (DOM) was 120.68 days versus 116.36 in November.
Dallas-Ft. Worth’s 3-month moving average of new home sales prices ticked higher in December at $493,899 versus $481,505 in November, up by $12,000. “However, the average price is trending down, so last month’s price increase does not necessarily mean homes sold for more. Sales prices are sensitive to the home’s size and like all home price averages, it does not consider the square footage,” said Caballero.
Austin edged out Dallas-Ft Worth to recapture the title of the priciest new home average in December at $494,714, based on its 3-month moving average.
Dallas-Ft. Worth’s pending new home sales last month – a key future sales indicator – continued its downward trend, moving lower again in December at 2,107 versus 2,190 in November. December year-over-year pending new home sales in Dallas-Ft. Worth are still up almost 12% (December 2024 versus December 2023).
Dallas-Ft. Worth’s new home inventory was up slightly in December. The 3-month average of active new home listings was 8,238 versus 8,157 in November.
HomesUSA.com is sharing its New Home Sales Report and New Home Sales Index at the same time the Commerce Department releases its nationwide New Residential Sales Report for December 2024, set for Monday, January 27, 2025, 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 DOM, 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.
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