Exclusive: Inventory of new homes on North Texas market improves, but prices continue northward – Dallas Business Journal – Dallas Business Journal

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The Dallas-Fort Worth new home market is trending toward a more balanced state as new home inventory jumped locally last month, but prices continue northward, according to a new monthly report from HomesUSA.com.
DFW new home listings increased to 2,654 in October, up from 2,575 in September, according to the Dallas-based company’s three-month moving average, released exclusively Thursday to the Dallas Business Journal.
The record pace of DFW new home sales showed signs of stabilizing last month. The average number of days on the market locally for a new home was 52 days, tying the record low for the HomesUSA.com New Home Sales Index, as it was unchanged from September.
However, new home prices continued to push higher in October to $436,924 from $433,882 in September per the three-month moving average of new home sale prices, said Ben Caballero, owner of HomesUSA.com.
“Dallas-Fort Worth’s new home market is becoming more balanced, and the best news is the increase in inventory,” Caballero said. “Sales activity also remains robust as Dallas-Fort Worth continues to be a leader in Texas for new home sales.”
North Texas new home sales were slightly higher in October, with the three-month moving average showing 951 homes sold versus 943 sold in September. The three-month moving average of pending new home sales for DFW in October was down noticeably, with 1,114 sales versus 1,343 in September.
The October 2021 new homes report for DFW is based on data from North Texas Real Estate Information Systems, or NTREIS.
Providing comprehensive analysis about Dallas-Fort Worth’s new home sales is an ongoing challenge, Caballero said. New homes are selling so fast that HomesUSA estimates roughly half of all new homes are not entered into the local Multiple Listing Service. However, the MLS data remains the most accurate and timely new home sales source available, he said.
Another new report shows where within DFW homebuilding activity remains hottest, and Celina continues to dominate that ranking.
Celina has been North Texas’ fastest-growing home construction market for most of 2021, overtaking Frisco early this year. The city in Collin and Denton counties has issued 2,287 homebuilding permits through October. That’s up 66% from the 1,375 permits city officials in Celina approved in the first 10 months of last year.
Frisco is the second-hottest homebuilding city year-to-date, with 1,744 permits through October, according to Addison-based Tomlin Investments, which tracks new home construction in the fastest-growing suburbs and exurbs of Dallas-Fort Worth. McKinney ranks third, with 1,508 permits through October.
Princeton is also surging, with 1,355 new-home permits issued through October — a 61% increase over the 844 permits issued in the same timeframe last year.
Prosper has handed out 1,082 homebuilding permits year-to-date; Little Elm, 1,020 permits; Anna, 996; Denton, 753; Melissa, 722; Van Alstyne, 321; Sherman, 261; Sanger, 115; and Krum, 63, according to the Tomlin Investments compilation. 
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