The Dallas-Fort Worth Housing market continues to show growth amid the economic impact of Covid-19; overall, new home sales are high even though inventory is low and new home prices are falling. Year-to-date, August 2020 saw an increase in residential construction starts of 4 percent. Furthermore, new home sales from July 2020 to August 2020 increased from 1,495 to 1,505; this increase means the DFW housing market has seen growth in sales month-to-month for 4 consecutive months and, according to HomesUSA.com, has set a record year-to-date level. With inventory, the difference mainly lies in overall vs new homes, where the inventory for the overall market (new and pre-owned) decreased by 44.6% from August 2019 to August 2020.
Right now, Dallas homebuilders are in very good standing, but those building in the entry-level price range are in great standing. Since February 2020, new home prices have slightly fallen month-to-month; in the February, the average new home price was $374,788, and today, the average new home price sits at $370,209. Camden Homes operates in the entry-level price range, where the changes in prices have been insignificant.
The Dallas Business Journal notes that growth in the local residential real estate market is driven by the suburbs north of Dallas-Fort Worth, like Princeton, Anna, Frisco, etc. Meanwhile, areas like McKinney and Denton both saw a decrease in permits issued. Camden Homes has inventory in Farmersville, TX, a northern DFW suburb just east of Princeton. This subdivision has a steady inflow of demand, with new home prices starting in the low $200Ks.
