July Metro Analysis and Forecast Report
July Metro Analysis and Forecast Report for Denver, Colorado and Austin, San Antonio, Dallas & Fort Worth, Texas.
In the Metro Analysis and Forecast report for July, extensive data analysis reports give insight into markets, including sales and pricing conditions in our markets.
Denver builders report healthy sales in June, with the best sales rates at communities priced under $450K. YOY price appreciation has slowed as builders introduce incentives in order to maintain their sales paces. Several large masterplans are in various stages of planning and development, which could increase lot supply in the next few years.
Houston builders report price appreciation of 4% YOY, with 40% of builders increasing prices MOM in June and only 5% decreasing prices. 65% of Houston builders averaged 2–3 sales per community. Cost increases have stabilized and sit below year-ago levels despite tariff increases.
- Austin builders report a flat sales environment, with most selling 2–3 homes per community. YOY price appreciation of 5% exceeds the 4% national average. Cost appreciation varied significantly, ranging from 1% to 8% YOY.
- San Antonio builders report approximately 2–3 sales per month. Price appreciation is slightly below the national average of 4% because more builders are offering homes priced below $300K. Sluggish sales above $350K in desirable submarkets such as Boerne have prompted some builders to reduce their lot positions. Cost increases ranged from 2% to 4% YOY as of 2Q19.
We rate sales and pricing conditions in Dallas as Slow and Fort Worth as Normal. Most builders in the metroplex report 2–3 sales per community. Excess move-up inventory in Dallas north side submarkets keeps pricing soft and our rating lower than Fort Worth.
Price appreciation averaged 3% YOY in Dallas and 6% in Fort Worth. Materials and labor cost increases in DFW ranged from -2% to 15% YOY with an average of 3%.
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