DALLAS, Feb. 24, 2025 (GLOBE NEWSWIRE) -- Texas’ new home sales softened last month in its four largest markets, but year-over-year are up 11% from January 2024, according to the newest monthly Texas New Home Sales Report released today by HomesUSA.com and its founder and CEO, Ben Caballero, the nation's top-ranked real estate agent.
The HomesUSA.com New Home Sales Report uses Multiple Listing Service data – the most comprehensive, current, and accurate information – from the Realtor Associations of North Texas, Houston, Austin, and San Antonio.
Texas’ new home sales were lower in all four major Texas new home markets in January, including Houston, Dallas, San Antonio, and Austin. The combined 3-month moving average of these four Texas markets fell 6% from 6,083 new home sales in December to 5,710 home sales in January.
“January sales are often lower than December as builders push hard to close the year with as many sales as possible, as I mentioned in the release of last month’s report,” said Ben Caballero, founder and CEO of HomesUSA.com. “Builders were offering discounts, buyer incentives, and Realtor bonuses for December closings. A slower January is not unusual for that reason,” he explained.
According to HomesUSA.com’s proprietary Texas New Home Sales Index, the pace of new homes slowed significantly in Austin and Dallas-Ft. Worth was marginally higher in San Antonio but remained steady in Houston.
Days on Market, which measures the speed of a sale, rose in January to 97.60 days from 92.47 days in Austin, 129.71 days from 120.68 days in Dallas-Ft. Worth, and 84.52 days from 82.63 days in San Antonio, meaning it took a few days longer for new homes to sell in January versus December. In Houston, the DOM in January was 89.43 versus 89.87 in December. The combined 3-month average of Days on the Market (DOM) statewide was 102.74 days versus 99.01 days in December.
Last month, the average new home prices in Texas's four largest markets posted mixed results. January’s 3-month moving average of new home prices dropped by more than $4,000 in the combined top four markets.
In Austin, the average new home price in January was down month-over-month by more than $11,000; in Houston, it was $6,000 lower, and it dropped by $6,900 in San Antonio – conversely, the average new home price in Dallas-Ft. Worth increased by more than $2,500 in January versus December.
Dallas-Ft. Worth retook the title of the priciest new home average last month at $496,498 – over $13,000 more than Austin at $483,056, based on its 3-month moving average.
The 3-month moving average of pending new home sales last month – a key future sales indicator – was mixed in the top four Texas markets. Specifically, Austin's pending sales in January dropped to 1,061 from 1,111 in December, Houston was 1,797 from 1,822, and San Antonio was 903 from 931. Dallas-Ft. Worth was the outlier, as pending new home sales were higher at 2,142 versus 2,107.
Texas’ January new home inventory was relatively flat in Dallas-Ft. Worth and Houston and dropped in Austin and San Antonio. Overall, the combined 3-month moving average of active new home listings was 32,285 in January versus 32,395 in December.
HomesUSA.com is sharing its New Home Sales Report and New Home Sales Index at the same time the Commerce Department releases its nationwide New Residential Sales Report for January, set for Wednesday, February 26, 2025, at 10:00 am Eastern time.
The HomesUSA.com monthly report covers closed sales recorded in MLSs by the 10th day of the following month. Sales reported by agents after the 10th of the month are not included. The report features 3-month and 12-month moving averages for six essential market data, including DOM, sales volume, sales prices, a sales-to-list price ratio, pending sales, and active listings. Caballero explained 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 Slowed Down – New Homes in Texas (Exclusive Data)
The HomesUSA.com New Home Sales Index showed the January 3-month moving average of DOM slowed down in three of Texas’ four major new home markets. In Dallas-Ft. Worth, the DOM was 129.71 days versus 120.68 days in December. In Austin, the DOM in January was 97.60 days versus 92.47 days in December. In San Antonio, the DOM was 84.52 days versus 82.63 days in December. Houston was the exception, as the DOM was 89.43 days versus 89.87 days in December. New homes have significantly higher DOM than existing homes because most new homes are listed while under construction. ( See Chart 1: Texas New Homes Days on Market )
Texas New Home Sales Decrease
Based on all local MLS data, the most reliable and current source of all home sales activity, total new home sales decreased in the four largest new home markets in Texas last month. The January 3-month moving average of new home sales in Dallas-Ft. Worth was 1,847 versus 1,990 in December. In Houston, total new home sales in January were lower at 2,046 versus 2,184 in December. In Austin, new home sales last month were 809 versus 834 in December. In San Antonio, new home sales in January were also higher at 1,008 versus 1,075 in December. ( See Chart 2: Texas New Home Sales )
Texas New Home Prices Drop
The average prices of new homes went down in three the four major new home markets in Texas last month. In Houston, the average new home price in January was lower at $395,515 versus $401,678 in December. In Austin, the 3-month moving average price in January was also lower at $483,056 versus $494,714 in December. San Antonio's average new home price in January was $337,414 versus $344,343 in December. Dallas-Ft. Worth was the anomaly, as the 3-month moving average price for new homes in January was higher at $496,498 versus $493,899 in December. ( See Chart 3: Texas New Home Prices )
Texas Sales-to-List Price Ratio Remains Stable
Cumulative new home sales remain slightly lower than 100 percent of the asking price. The combined 3-month moving average of the sales-to-list price ratio in Texas’ four largest markets for January was 97.33 versus 97.40 percent a year ago and 97.35 percent last month. Dallas-Ft. Worth’s ratio in January was 97.70 versus 97.54 percent last January and 97.70 percent last month. In Houston, the ratio in January was 96.16 versus 97.86 percent last January and 96.39 percent last month. In Austin, the sales-to-price ratio in January was 97.50 versus 97.07 percent last January and 97.42 percent last month. San Antonio's ratio in January was 98.78 versus 96.54 percent a year ago and 98.61 percent last month. ( See Chart 4: Texas Sales-to-List Price Ratio )
Texas Pending New Homes Sales Decrease
Based on local MLS data, the 3-month average of pending new home sales decreased in three of the four largest Texas new home markets. The combined four-market average in January totaled 5,902 versus 5,971 in December. In Houston, pending new home sales in January were lower at 1,797 versus 1,822 in December. In Austin, pending new home sales in January decreased to 1,061 versus 1,111 in December. In San Antonio, pending new home sales also decreased last month to 903 versus 931 in December. Dallas-Ft. Worth was the outlier, as pending new home sales last month were higher at 2,142 versus 2,107 in December. ( See Chart 5: Texas Pending New Home Sales )
Texas Active Listings for New Homes Flatten
Active new home listings flattened in the four of the largest Texas new home markets in January. The January 3-month average active listings inventory in Texas’ four major new home markets was 32,285 new homes versus 32,395 in December. Dallas-Ft. Worth's active listings in January were 8,287 versus 8,238 in December. Active listings in Houston last month were 13,127 versus 13,103 in December. In Austin, active listings in January were 5,640 versus 5,719 in December. In San Antonio, active listings last month were 5,230 versus 5,334 in December. ( See Chart 6: Texas Active Listings )
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 for new homes listed in the local Multiple Listing Services (MLSs) for Dallas-Ft. Worth, Houston, Austin, and San Antonio. Created by Ben Caballero, it is the first Days on Market index to track the Texas new home market and includes homes listed while under construction. ( See Chart A: 12-Month Moving Averages )
*Note: Texas data denotes a combination of its four largest new home markets – Houston, Dallas-Ft. Worth, Austin, and San Antonio – which comprise the vast majority of new home sales and MLS data statewide.
About Ben Caballero and HomesUSA.com®
Ben Caballero, founder and CEO of HomesUSA.com, is a three-time Guinness World Records title holder for ‘Most annual home sale transactions through MLS by an individual sell-side real estate agent – current.’ 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 individual real estate agent to exceed $3 billion in residential sales transactions in a single year (2022), the first agent to exceed $2 billion (2018, 2019, 2020), and the first agent to exceed $1 billion (2015, 2016, 2017). Ben, an award-winning innovator and technology pioneer, works with more than 60 home builders in Dallas-Fort Worth, Houston, Austin, and San Antonio. His podcast series is available widely, including iTunes, Spotify and YouTube. Learn more at HomesUSA.com |Twitter: @bcaballero - @HomesUSA | Facebook: /HomesUSAdotcom.
Note for journalists: You may contact Ben Caballero directly by email atben@homesusa.com.
REALTOR® is a federally registered collective membership mark which identifies a real estate professional who is a member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics.
Media Contact:
Kevin Hawkins
(206) 866-1220
kevin@wavgroup.com
Image: Ben Caballero (2025 – Updated)
https://homesusa.com/wp-content/uploads/2023/04/Ben_Caballero_2-scaled.jpg
Individual Chart images:
Chart 1: Texas New Homes Tracking – Days on Market – January 2025: https://homesusa.com/wp-content/uploads/2025/02/Chart-1-Texas-New-Homes-Tracking-Days-on-Market.png
Chart 2: Texas New Home Sales Market – January 2025: https://homesusa.com/wp-content/uploads/2025/02/Chart-2-Texas-New-Home-Sales-Market.png
Chart 3: Texas New Home Sales Prices Market – January 2025: https://homesusa.com/wp-content/uploads/2025/02/Chart-3-Texas-New-Home-Sales-Prices-Market.png
Chart 4: Texas Sales-to-List-Price Ratio Market – January 2025: https://homesusa.com/wp-content/uploads/2025/02/Chart-4-Texas-Sales-to-List-Price-Ratio-Market.png
Chart 5: Texas Pending New Home Sales Market – January 2025: https://homesusa.com/wp-content/uploads/2025/02/Chart-5-Texas-Pending-New-Home-Sales-Market.png
Chart 6: Texas Active Listings for New Home Market – January 2025: https://homesusa.com/wp-content/uploads/2025/02/Chart-6-Texas-Active-Listings-for-New-Homes-Market.png
Chart A: Texas 12-Month Moving Averages Market – January 2025: https://homesusa.com/wp-content/uploads/2025/02/Chart-A-12MonthChart-DataOnly.jpg
