“This disparity exemplifies the shortage of affordable housing during a time when the rocky economic atmosphere may make lower-priced homes look more financially feasible to the potential homebuyer,” Gaines said. Home sales declined the most in Austin at 7.7%, while Houston actually saw home sales rise by 1.9%. Housing starts in total fell 30.1%, hitting a six-year low, the report said. The supply of luxury homes in Texas now sits at 7.6 months. ![]() However, the supply of unsold homes in the higher price range increased for the first time this year, the report said. The Dallas/Fort Worth International Airport, which is mostly lo- cated in the Fort Worth. A fast-growing tech hub with low unemployment, Raleigh has seen home prices increase by almost 30 since 2020. High employment rates in the Dallas-Fort Worth area are helping to keep mortgage delinquencies and foreclosure activity in the area low foreclosure filings are still below pre-pandemic levels, at just 0.3 as of October 2022, according to Black Knight Inc. for sales to moderate- income families and 1.5 percent to sales to lower - income families. “Texas’ months of inventory fell to a historic 3.2 months in May as the state’s supply of active listings plummeted to its lowest level in three-and-a-half years.”Ĭlosings on luxury homes, or homes priced more than $500,000, also fell. Arlington, TX Metropolitan Statistical Area in north-central Texas. Committee on Banking, Finance, and Urban Affairs. Jim Gaines, chief economist for the Real Estate Center at Texas A&M University. “Unless a buyer is looking for a luxury home, there are fewer to choose from,” according to Dr. Specifically, Austin, Texas’ inventory fell to 1.9 months San Antonio’s fell to three months Dallas’ fell to 2.6 Fort Worth’s fell to 2.4 and Houston’s fell to 3.4 months, which is slightly above the state’s average, the report said. Active listings of single-family homes in Dallas have decreased by 14.8 year-over-year. (May 2022), single-family home prices increased by over 22 year-over-year, while months inventory increased from a 1.0 to 1.2 months supply. Texas’ inventory of homes in the $300,000 price range fell to an all-time low of 2.4 months, according to the Real Estate Center at Texas A&M University’s latest Texas Housing Insight report.Īctive listings in May fell the most in Central Texas, after increasing for two months, the report said. The population of the Dallas-Fort Worth area keeps swelling. ![]() Housing sales also dropped 2.1% year over year in May, while softer demand drove the average days on market to 61. If the lots are purchased by the Land Bank, they will be added to the Land Bank inventory.Housing inventory in Texas has hit a 3.5 year low. The Land Bank does not own these propertiesand they are not currently available for purchase by a qualified participating developer. ![]() Annual Plan Map - Map of lots eligible for sale to the Land Bank.This process takes approximately eighteen (18) months. Looking at new homes in the DFW metroplex Come check out the beautiful new home communities from Century Communities and Century Complete homes in DFW. Once a tax foreclosure judgment is obtained, the properties are sold to the Land Bank and become part of the Land Bank's inventory. Once the annual plan is approved by the City Council, the Land Bank staff will refer approximately 25 properties per month for tax foreclosure. Land Bank Annual Plan - The Land Bank Annual plan identifies the parcels of property that are eligible for sale to the Land Bank along with the Land Bank's acquisition and affordable housing development strategies.Follow the link to view the Land Bank Inventory. Households or the development of commercial uses that stabilize distressedĬommunities. The resale of such property enables theĭevelopment of new single-family homeowner or rental units to serve low-income.
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