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Home > New Construction > New Homes Report D-FW #2 In Country Ending March 2009

 

The Dallas-Fort Worth metroplex ranked #2 in the country for new home sales and starts during the 12-month period ending March 2009. DFW comes in after Houston in the nation for new homes report.

Although new home starts dropped more than 50% when compared to the 2008 numbers, DFW sold more than 17,000 houses in the 12-month period following Houston which sold 23,000 new home sales.

Here, new home starts in Frisco Texas are as follows:

2009

New homes in Frisco TXApril - 54 permits
March - 58 permits
February - 52 permits
January - 52 permits
 

2008

December - 31 permits
November - 39 permits
October - 64 permits
September - 81 permits
August - 111 permits
July - 112 permits
June - 99 permits
May - 116 permits
April - 118 permits
March - 100 permits
February - 102 permits
January - 120 permits
-----------------------------------
Total - 1,093 permits

The new homes for 2009 in Frisco Texas reflected exactly 50% based on 2008 numbers.

Several factors seem to affect the new home sales in Frisco Texas:

New Homes in Frisco TXFrisco Texas is considered a relatively new suburbs in the Dallas metroplex. Hence, Frisco is still undergoing many new residential development projects. Several years ago (in 2006) when new home sales peaked, many builders sold homes to many home buyers who qualified for 100% or very low down-payment loans. Many of them acquired these homes through adjustable rate mortgages. When the interest rates adjust upwards, many of them found themselves too strapped to pay for the new increased mortgage payments. Many of them faced values less than what they paid originally. Many of them resorted to short sales in Frisco while some chose the bankruptcy and foreclosure routes.

Things do not look pretty in Frisco Texas - as far as foreclosure and short sale rates. At the same time, one man's pain is another man's gain. This becomes a buying haven for those who can qualify now. Many buyers in Frisco Texas can purchase almost new homes, and some even purchase brand new homes from home builders that went into bankruptcy.

Many buyers these days pay far less money to purchase these "good deals" than to purchase from new home builders. Hence, new home builders continue to struggle.

At the same time, the cost of building still pretty much cost the same (if not more) than back in 2006 (at the highest peak). Hence, for many buyers who are seeking "good deals", it seems like new home builds are not the answer to their quest.

New home builders have also faced difficulty in acquiring new loans - just like consumers. Lenders feel uncomfortable approving loans on new home builds that sit on high inventory levels. Some builders in the area offer large incentives to get these inventories off their books so that they can get back into building again.

It's just ugly out here in Frisco Texas. But I choose to view this as a positive effect on new home sales. Here in Frisco Texas, we have a new kind of new home buying opportunity. Seize it and at the same time, let Uncle Sam help you with the Frisco TX First Time Home Buyers $8,000 Tax Credit if you qualify.

 

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Loreena Yeo - Realtor(R) in Frisco TX | Broker
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Loreena Yeo is the broker of record of
3:16 team REALTY to practice real estate in Frisco & surrounding cities (State of Texas). Texas Real Estate Broker License Number #9001154.

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Read about what our satisfied clients have to say:

When she arrived for our appointment, we went through the normal preliminary procedures and all was fine. Then she surprised us. She had already done most of the work and only needed to take a few pictures of the inside and determine the price that we would be comfortable asking. She also spent a great deal of time explaining to us how the whole sales process work and what we could expect.

Eric & Tomoko Quere, Plano TX

 

Ultimately, Loreena introduced us to the house we bought--it was not one we found from our own hours of searching web listings--based on the the comments we had made while we visited these different homes. This is a testimony to her ability to listen well and to work proactively on our behalf.

Jenn & Glen Miller, Denton TX

We were completely impressed with Loreena. She helped us find and buy a home in Frisco. We have very high expectations from a realtor and she surpassed them. Knows her market extremely well, not just the technical market pricing data, but the nuances of all the neighborhoods as well. One of the most responsive and professional persons I've met in my entire business career.

Ruth & Jerry Meek, Frisco TX

I just want to thank you again for your help in selling our house. In this tough economy and market, I really didn't expect to get an offer. But you counseled me so well in pricing the house to sell and yet not letting me accept an offer that was too low. I believe we got the best deal we could have. I was so pleased and surprised with what we walked away with.

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