Current Market Data
With warm weather heating up much of the United States, many homeowners are craving new summer styles for their living spaces.
Dallas and Houston rank in the top 10 cities for home renovation spending, according to a report from Pro Tool Reviews.
Two of the 10 most expensive new listings in Texas are listed by Chad Barrett, an agent with Allie Beth Allman & Associates.
Dallas’s ranking is due mostly to its affordable rental market: residents only need to spend 31.6% of their income on monthly rent expenses.
Plano ranked No. 4 in the country, behind Fremont, California; Overland Park, Kansas; and Irvine, California.
The S&P CoreLogic Case-Shiller U.S. National Home Price Index has hit a new record for six of the last 12 months, as demand remains strong in the face of tight inventory.
At the same time, the median price of a new home sold in April declined as well.
Dallas recorded the second-highest quantity of home sales in the U.S. in April, according to the latest RE/MAX National Housing Report.
Buyers are finally getting some relief as mortgage rates dip below 7% for the first time in five weeks, according to a Redfin report.
New-home construction jumped 5.7% month over month after a soft March, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
According to a new report from RentCafe, hotels have overtaken offices as the most likely spaces to be converted into new apartments.
Meanwhile, the median price rose 1.5% year over year to $405,000.
So far this year, Texas’s in-to-out move ratio is up 17% year over year, meaning far more new residents are moving in than moving out of the Lone Star State.
“Realtors are working with buyers and hearing from lots of others who are considering buying,” said Jef Conn, chairman of Texas REALTORS.
A majority of the most expensive new listings in Texas are located in the Dallas area.
“The Texas spring homebuying season is underperforming as the new home sales recovery has been unimpressive,” said HomesUSA CEO Ben Caballero.