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    Slipping sales

    New-home market in Dallas-Fort Worth cools off, new data shows

    John Egan
    Aug 19, 2019 | 3:54 pm
    Austin Photo Set: News_steven_home buying need a job to qualify_may 2012_sold house
    A decline in pending new home sales can impact future new home sales growth, experts say.
    Courtesy photo

    It may be hot as you-know-what outside, but the new-home market in Dallas-Fort Worth is cooling off just a tad, according to data compiled by HomesUSA.com.

    New-home sales in DFW totaled 1,270 in July, down 6.9 percent from 1,364 in June and down 2.8 percent from 1,306 in July 2018, HomesUSA.com says in an August 19 release.

    Meanwhile, the average price of a new home in DFW has held fairly steady over the past year. The average price in July was $375,694, compared with $373,960 in June and $376,596 last July, according to Addison-based HomesUSA.com, whose technology platform helps builders sell homes.

    The state’s three other major metro areas saw similar trends in new-home sales, the HomesUSA.com data shows.

    Ben Caballero, founder and CEO of HomesUSA.com, says all four of Texas’ major new-home markets remain healthy.

    “After a good 2018, the market is steady, but as last fall proved, it is very sensitive to interest rates,” Caballero says. “At the moment, I expect a good market and expect prices to be in check due to builder competition. With current interest rates, this is a good time to buy.”

    In the HomesUSA.com data, the most dramatic change outside DFW happened in San Antonio. There, the average number of new-home sales dropped 13.1 percent from June to July (going from 534 to 491). The decline from July 2018 (519 sales) to July 2019 was 5.4 percent, HomesUSA.com says.

    At the other end of the spectrum, Austin experienced the smallest year-over-year decline in average new-home sales — from 667 in July 2018 to 653 in July 2019, a decrease of 2.1 percent. The month-to-month fall-off was bigger, however, with the number shrinking 6.7 percent from June 2019 (700 sales) to July 2019.

    Houston’s numbers were much like Austin’s. From June 2019 to July 2019, the average number of home sales went from 1,388 to 1,297, a difference of 6.6 percent. From July 2018 (1,256 sales) to July 2019, the decrease was 3.3 percent.

    The waning number of new-home sales in Austin, Houston, and San Antonio coincided with a slight overall uptick in new-home prices, according to HomesUSA.com.

    Austin witnessed the biggest jump in average new-home prices, the HomesUSA.com data indicates. The average price in July 2019 was $372,365, up 1.9 percent from July 2018 ($365,495) and up 1.5 percent from June 2019 ($367,041).

    San Antonio saw less movement in prices than Austin did. The average new-home sale price in San Antonio stood at $299,151 in July 2019, up from 1.8 percent in July 2018 ($293,842) and up 0.6 percent from June 2019 ($297,387), HomesUSA.com says.

    In Houston, new-home prices barely budged. The average price in July 2019 was $357,118, up 0.4 percent from July 2018 ($355,842) but down 0.5 percent from June 2019 ($358,810), according to HomesUSA.com.

    HomesUSA.com relied on Multiple Listing Service data from Realtors groups in DFW, Austin, Houston, and San Antonio to produce its analysis.

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    Dallas approves $14.5 million for Buckner DART station project

    Raven Jordan
    May 16, 2025 | 6:27 pm
    Palladium Buckner Station Project
    Courtesy rendering
    Palladium Buckner Station Project

    The Dallas City Council unanimously approved a $14.5 million incentive for the Palladium Buckner Station Project, a proposed mixed-income and transit-oriented development project at the Dallas Area Rapid Transit (DART) Buckner Light Rail Station at 8008 Elam Rd.

    The estimated $107.1 million project is being developed by multi-family developer Palladium USA in partnership with Dallas Housing Finance Corporation and will be built on a space that is currently a parking lot.

    It will include new ground-up construction of residential buildings to include 304 mixed-income apartments comprised of 90 one-bedroom, 147 two-bedroom, and 67 three-bedroom units. Of the 304 apartments, 244 will be income-restricted and leased solely to households earning at or below 60 percent area family median income.

    There will also be two residential parking garages with 350 spaces, and a publicly accessible promenade providing a direct pedestrian connection to the DART Buckner Light Rail Station.

    City Council member Jaime Resendez, in whose southeast Dallas District 5 the project resides, says in a statement that "this development directly addresses the City’s urgent need for high-quality affordable housing and has the potential to catalyze meaningful economic development and revitalization in a community that truly needs it."

    The $14.5 million incentive includes a loan of $6,183,092 and a grant of $8,316,907 from several funding sources administered by the City’s Office of Economic Development, including general obligation bond proceeds from the economic development/housing propositions in the City’s bond programs.

    The proposal is one of five transit-oriented development projects on DART-owned property up for review, with a goal to increase DART ridership by providing a mix of market-rate and affordable housing that easily connect to DART.

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