Dallas-Fort Worth's new home sales climbed higher last month, bucking a national trend of declining sales as interest rates have shifted higher.
"Homebuyers are benefiting from a more balanced market," said Ben Caballero, CEO of HomesUSA.com. “But the strength of this new home market – and our Dallas-Fort Worth builders – remains incredibly resilient considering the impact on buyers from rising interest rates.”, too, from $512,934 in August. “As inventory goes up and the pace of new home sales continue to slow, Dallas area builders are seeing a more normal real estate market – quite a change from August 2021 when new homes were flying off the shelves,” Caballero said.Austin's three-month moving average price decreased in October to $531,347 from $541,563 in September. In San Antonio, the average new home price decreased in October to $390,159 from $400,473 in September.
DFW pending new home sales reported to the MLS increased last month. In October, the three-month average of pending new home sales in Dallas-Fort Worth was 1,769 compared to 1,659 in September. by double-digit percentages in many of the prior hot spots for new construction in the suburbs north of Dallas.in North Texas by a record-setting 27% from the same month a year ago.