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New Home Sales Surge

by Christie Cannon



New Home Sales Surge | Keeping Current Matters

According to the latest report from the US Census Bureau and the Department of Housing and Urban Development, newly constructed home sales jumped 5.7% month-over-month and 21.6% year-over-year to an annual pace of 552,000.

Many buyers are looking to the new homes market to make up for the lack of existing home sales inventory. National Association of Home Builders Chief Economist David Crowe explains:

"Today's report indicates the release of pent-up housing demand as the overall economy strengthens, consumer confidence grows and mortgage interest rates remain low. The housing market should continue to move forward at a modest but more persistent pace throughout the rest of 2015."

Regionally, the Northeast led the way with a 24.1% increase in new home sales, followed by the South (7.4%) and West (5.4%). Sales in the Midwest declined by 9.1%.

The inventory of new homes for sale currently sits at a 4.7-month supply down slightly from July (4.9) and significantly from August 2014 (5.4).

Buyers who purchased a new home were willing to spend more to get the amenities that they wanted. The median home price for new homes was $64,000 higher thanexisting homes in August at $292,700!

Approved applications for building permits increased 3.5% over July and 12.5% over this time last year. Permit applications are seen as a strong indicator of builder confidence in the market.

Bottom Line

Buyer demand continues to outpace inventory of homes for sale. If you are thinking of selling your house this year, now may be the time to list before builders have a chance to replenish the supply of new homes.

The U.S. Soccer Federation Hall of Fame coming to Frisco, TX

by Christie Cannon

Frisco TX recently cleared the way for the a new home for the US Soccer Federation's Hall of Fame.  Included in a $39 million renovation, the National Soccer Hall of Fame may have found a new home in Frisco TX.  The National Soccer Hall of Fame & Museum has been "homeless" since closing in NY in 2010.  The Toyota Stadium complex already draws well over 1 million visitors per year.   The latest renovations are designed to better prepare the venue for NCAA Football & other high profile events.  The announcement is expected on October 14th. 

Frisco TX - Named among fastest growing economies

by Christie Cannon

WalletHub names Frisco TX in their top cities that have expanded rapidly in socioeconomic terms from 2008 to 2014.

Source: WalletHub

Existing Home Sales Slow Against Tight Inventory

by Christie Cannon

Based on the National Association of REALTOR's latest September numbers, the pace of home sales has slowed; however, the year over year gains continue for the 11th month.

Homeowners' Perception of Value - Outpacing Market?

by Christie Cannon

For the 6th month in a row, the gap between how homeowner & appraiser view value has widened according to Quicken Loan's Home Price Perception Index.


According to Quicken's Chief Economist Bob Walters: "Many homeowners around the country are seeing the national headlines about home value increases and they are optimistic about their equity increasing. While some areas are seeing the same level of home appreciation, or even more, there are also some areas that have slower home value increases. This can lead to homeowners and appraisers not quite seeing eye-to-eye.”

Even a few months ago we were seeing appraisal issues affect pending home sales. As Walters explains, this is in part due greater balance returning to home value appreciation. "Many homeowners around the country are seeing the national headlines about home value increases and they are optimistic about their equity increasing," said Quicken Loans Chief Economist Bob Walters. "While some areas are seeing the same level of home appreciation, or even more, there are also some areas that have slower home value increases. This can lead to homeowners and appraisers not quite seeing eye-to-eye."

BOTTOM LINE

In North TX, while home owners continue to enjoy record appreciation, real estate pros & home owners must remain cognizant of the subtle shifts in appreciation rates that are often masked in the market's excitement. Likewise, agents & owners truely need to be prepared to sell every home twice!

Have questions about your home's value or market conditions, please give a call

 - Christie Cannon - 469-951-9588- Keller Williams Frisco

New Frisco Community - Edgestone at Legacy

by Christie Cannon

New Master-Planned community announced west of the Dallas North Tollway & just north of Legacy!  This new Hines development is situated in the heart of West Frisco & is expected to boast some of the area's top builders - Huntington Homes, Shaddock Homes, Darling Homes, Coventry Homes & Village Builders. With approimately 311 acres, Edgestone at Legacy is currently planned for single-family residences. 

Nationwide releases Health of Housing Report

by Christie Cannon

Nationwide just released their 2015 Q2 report on the Health of US Housing & incase the conflict of numbers is not great enough.... they rank TX negatively in affordability! Several years of strong housing has started to reflect a drop in housing affordability in Dallas & North Texas.  While overall Dallas-Irving-Plano continue to rank in the top 10 best performing markets, this is largely due to our otherwise strong economic indicators.  The entire Q2 2015 report can be viewed here!

2015's Healthiest Real Estate Markets - North TX Tops Ranks

by Christie Cannon

Once again data reflects continued strength in our North Texas real estate market – just this past week Wallet Hub released their 2015 Healthiest Housing Report.

WalletHub compared 14 metrics in 300 cities to rank the overall “health” of each market.  To see their unique metrics, please click here.

 

Overall Rank

City

‘Real-Estate Market’ Rank

‘Affordability & Economic Environment’ Rank

1 Frisco, TX 3 2
2 Allen, TX 8 1
3 Arvada, CO 2 52
4 Plano, TX 6 29
5 Sunnyvale, CA 1 140
6 Carrollton, TX 11 16
7 McKinney, TX 21 4
8 Cary, NC 22 3
9 Richardson, TX 9 40
10 Santa Clara, CA 4 120
11 Fort Collins, CO 7 87
12 Austin, TX 28 5
13 Boulder, CO 5 139
14 Centennial, CO 15 61
15 Bellevue, WA 14 72

The Power of Interest on your Mortgage!

by Christie Cannon

Sometimes a simple graphic goes a long way!  This is based on average interest rates on a $200K mortgage (principal & interest only on 30yr fixed).

Event - Park-A-Palooza - Movies in the Park

by Christie Cannon

Warren Sports Complex will be hosting a MOVIE & Picnic in the park from 7-11pm on June 27th. The movie will be Paddington.  Admission is free & the event will offer bounce houses before the movie to try and burn off some energy before the showing.  Bring blankets, chairs, picnic foods, snacks.... and bug-spray (it is still TX after all).  More info can be found here!

Displaying blog entries 11-20 of 103

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Photo of Christie Cannon Real Estate
Christie Cannon
Keller Williams Realty
5933 Preston Road #300
Frisco TX 75034
972-215-7747
Fax: 972-215-7748
Keller Williams Frisco - The Christie Cannon Team - http://www.christiecannon.com