New-home sales up slightly in Dallas

by Emily Marek

New-home sales increased marginally across the Lone Star State last month, according to the latest New-Home Sales Report from HomesUSA CEO Ben Caballero.

In Dallas, new-home sales increased from 1,657 in February to 1,717 in March. However, days on market also increased to 138.7 days, up from 127.8 days a month prior.

“The Texas spring homebuying season is underperforming as the new-home sales recovery has been unimpressive,” said Caballero. “New-home markets throughout Texas are struggling to return to normal seasonality.”

Caballero added that while the strong Texas economy keeps builders viable, the state needs “lower and more stable mortgage rates to improve affordability.”

New-home prices in Texas remained stable last month, with Dallas’s average increasing slightly from $472,877 in February to $473,399 in March. Statewide, the average dropped slightly month over month, from $430,533 to $428,682.

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