HomesUSA.com sees increase to Days on Market, higher sales, and prices stabilizing
Houston, TX – January 19, 2022 – The Houston new homes market remains robust with higher new home sales last month and longer Days on Market as new home prices begin to stabilize, according to the newest monthly report from HomesUSA.com.
The 3-month moving average of Houston new home sales were higher while the active listings 3-month moving average was lower in December 2021. December new home sales increased to 1,559 from 1,365 in November. December active listings decreased to 7,813 from 7,900 in November.
Dallas-based HomesUSA.com also reports 3-month moving averages show the pace of Houston's new home sales increased slightly last month. The average Days on Market for a new home in Texas was 56 days – up two days from November, according to the HomesUSA.com New Home Sales Index.
New home prices in Houston saw an increase as the 3-month moving average of new home sale prices rose to $397,785 in December versus $395,765 in November.
The HomesUSA.com December 2021 new homes report for Texas, includes Houston, Dallas-Ft. Worth, Austin, and San Antonio, and is based on data from the Houston Association of REALTORS, North Texas Real Estate Information Systems, Austin Board of REALTORS, and San Antonio Board of REALTORS.
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“Houston’s new homes market is hot, just not red hot,” said Ben Caballero, CEO of HomesUSA.com and world record holder for most home sales. “There is a mix of good news for Houston builders and buyers as we do see more new homes listed for sale. The good news for builders is that the Houston new home market is rock solid and still growing,” Caballero explained.
Caballero notes December’s 3-month moving average of MLS data shows all four of the state’s largest new home markets – Houston, Dallas-Ft. Worth, Austin, and San Antonio – have higher new home sales for December.
While Caballero cautions that new homes are still selling so fast that many are not being entered into the MLS (Multiple Listing Service), more listings are being entered into the local MLS, which remains the most reliable and timely source of all real estate sales activity.
Caballero is sharing the HomesUSA.com New Homes Report in advance of the release by the Commerce Department of its nationwide New Residential Sales Report for December 2021, set for Wednesday, January 26 at 10:00 am Eastern.
Caballero noted this monthly HomesUSA.com report includes both 3-month and 12-month moving averages for all essential market data, including Days on Market, sales volume, sales prices, a sales-to-list price ratio, pending sales, and active listings. The 3-month moving average indices track market seasonality, while the 12-month moving average removes the seasonality and tracks the longer trend.
Days on Market – New Homes in Texas (Exclusive Data)
The HomesUSA.com New Home Sales Index showed the 3-month moving average of Days on Market rose in all four Texas major new home markets. Houston’s DOM was 68.50 days in December versus 66.45 days in November. The DOM for Dallas-Ft. Worth increased to 52.41 days in December versus 51.07 days in November. In Austin, the DOM was higher at 23.38 days last month versus 19.79 days in November. In San Antonio, the DOM was 50.20 days in December versus 49.83 days in November. (See Chart 1: Texas New Homes Days on Market)
Texas New Home Sales Data
Total new home sales, solely based on MLS data, were higher statewide in Texas and in all four major new home markets last month, according to the 3-month moving average. Houston sales were 1,559 in December versus 1,365 in November. In Dallas-Ft. Worth, December sales were 1,195 versus 1,006 in November. In Austin, December sales totaled 419 versus 395 in November. In San Antonio, new home sales increased to 412 in December versus 347 in November. (See Chart 2: Texas New Home Sales)
Texas New Home Prices
The average price of new homes in Texas shows an increase in three of the four Texas major new home markets last month. In Houston, the average new home price was $397,785 in December versus $395,765 in November. Dallas-Ft. Worth reported its 3-month moving average price for new homes was $436,581 in December versus $435,819 in November. The San Antonio average new home price in December was $369,468 versus $361,090 in November. Austin's 3-month moving average price – the highest among the top four markets – was the exception, as it fell to $535,815 in December versus $536,278 in November. (See Chart 3: Texas New Home Prices)
Texas Sales-to-List Price Ratio
New home sales statewide and in Houston, Dallas-Ft. Worth, Austin, and San Antonio remained at nearly 100 percent of the asking price. Statewide, the 3-month moving average of the sales-to-list price ratio in December was 99.340 percent versus 99.381 percent in November. It was 98.849 percent in December versus 98.888 percent in November in Houston. In Dallas-Ft. Worth, it was 99.920 percent in December versus 99.937 percent in November. In Austin, the sales-to-price ratio was 99.847 percent in December versus 99.920 percent in November. San Antonio's ratio was 99.025 percent last month versus 99.058 percent in November. (See Chart 4: Texas Sales-to-List Price Ratio)
Texas Pending New Homes Sales Data
Based solely on MLS data, pending new home sales totals were lower statewide and in each of the four major new home markets in Texas. Statewide MLS data shows pending sales in December were 3,841 versus 4,692 in November. Houston’s December pending sales were 1,507 versus 1,897 in November. Dallas-Ft. Worth pending sales in December were 1,280 versus 1,588 in November. Austin's pending sales in December were 527 versus 547 in November. In San Antonio, pending sales last month were 528 versus 660 in November. (See Chart 5: Texas Pending New Home Sales)
Texas Active Listings for New Homes
MLS data shows the 3-month moving average for active listings statewide declined in December, with 14,443 versus 14,559 in November. Two of the four major Texas new home markets – Houston and Dallas-Ft. Worth – posted lower active listings last month. Last month's active listings in Houston were 7,813 versus 7,900 in November. Dallas-Ft. Worth’s active listings in December were 2,478 versus 2,638 in November. Austin’s active listings were 2,061 in December versus 1,994 in November. Also, San Antonio reported active new home listings last month were 2,091 versus 2,026 in November. (See Chart 6: Texas Active Listings and Chart A: 12-Month Moving Averages)
About the HomesUSA.com New Home Sales Index
The HomesUSA.com Index is reported as both a 3-month and 12-month moving average of the Days on Market (DOM) for new homes listed in the local Multiple Listing Services (MLSs) for the four largest Texas markets, including Dallas-Ft. Worth, Houston, Austin, and San Antonio. Created by Ben Caballero, founder and CEO of HomesUSA.com, it is the first Days on Market index to track Texas's new home market and includes homes listed while under construction.
About Ben Caballero and HomesUSA.com®
Ben Caballero, founder and CEO of HomesUSA.com, is the world record holder for "Most annual home sale transactions through MLS by an individual sell-side real estate agent." Ranked by REAL Trends as America's top real estate agent for home sales since 2013, Ben is the most productive real estate agent in U.S. history. He is the only agent to exceed $1 billion in residential sales transactions in a single year, a feat first achieved in 2015 and repeated each year through 2018 when he achieved more than $2 billion. An award-winning innovator and technology pioneer, Ben works with more than 60 home builders in Dallas-Fort Worth, Houston, Austin, and San Antonio. His podcast series is available on iTunes and Google Podcasts. An infographic illustrating Ben’s sales production is here. Learn more at HomesUSA.com |Twitter: @bcaballero - @HomesUSA | Facebook: /HomesUSAdotcom.
