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October 2022 DFW Area Real Estate Stats

November 21, 2022

by Republic Title Real Estate Articles Resources Stats

October 2022 Stats are IN!

In Collin and Denton counties, all arrows are pointing up in the areas of new listings and active listings with active listing seeing an increase of over 100% in both counties compared to last year. It will come as no surprise that the average days on market has also increased in these counties over last year’s market. What we are all seeing in the news is reflected in the number of sales in October which has declined between 25 and 30%.

In Dallas and Tarrant counties, we are seeing similar trends, however, new listings are down by about 10% in both counties. Active listings are down 39% in Dallas County and up 82% in Tarrant County. Average sales prices are up 16.7% in Dallas and 14.2% in Tarrant. Again, the number of sales is down by approximately 30% in both of these counties.

Our stats infographics include a year over year comparison and area highlights for single family homes broken down by county. We encourage you to share these infographics and video with your sphere.

For more stats information, pdfs and graphics of our stats including detailed information by county, visit the Resources section on our website at DFW Area Real Estate Statistics | Republic Title of Texas.

For the full report from the Texas A&M Real Estate Research Center, click here. For NTREIS County reports click here.

Dallas Morning News Top Workplace

November 10, 2022

by Republic Title Inside Republic Title

Republic Title is excited to announce that we were named the #2 Best Midsize Company in Dallas by The Dallas Morning News!

In addition to ranking on the Top Workplace list for the 9^th year in a row, our team won a special award for Best Execution for ranking higher than any other company on the statement: At this company, we do things efficiently and well.

Read more about what makes Republic Title a Top Workplace here: Republic Title of Texas Inc. (dallasnews.com)

November Landscape & Gardening Tips & To-Do’s

November 2, 2022

by Republic Title Resources

Need help planting a successful garden or landscape? Here are some November planting tips from the Dallas Arboretum horticulture staff and the Dallas County Master Gardeners that can help keep your home garden looking beautiful this Fall. Tree and shrub planting should be your focus in November.

Continue planting trees and shrubs now while they are becoming dormant so they can establish roots during winter. An application of root stimulator will help get them started.
Transplant trees and shrubs in your landscape now. Give them a large enough root ball when transplanting to avoid root damage.
Dig and divide spring blooming perennials now so their roots can get established before spring.
Prune back fall-blooming perennials to produce healthy, bushy plants next spring.
Plant narcissus and pre-chilled tulips toward the end of the month.
Plant pansies, dianthus, kale and other winter annuals, as well as cool season veggies such as broccoli and cabbage.
Fertilize annual color with a complete, water soluble fertilizer.
Mulch new plantings to help retain moisture and insulate roots against cold temperatures.

November Class Calendar

October 28, 2022

by Republic Title Ask the Expert Education Technology

Republic Title is pleased to offer a variety of continuing education classes for our customers. Join us in November for classes including:

Tax Planning Program Specifically for Real Estate Agents
Join us for a Lunch and Learn with special guests from Greenlight Tax Group. They’ve designed a tax planning program specifically for REALTORS®. They will share strategies to help you minimize your tax liability and keep more of what you make year after year. Please register in advance, as seats are limited.
November 2nd
11:30 am – 1:00 pm
Republic Title Park Cities

Market Yourself Like A Pro Using RPR®
Join us to learn how to use RPR®’s (Realtors Property Resource®) marketing resources to streamline your outreach and share regular market updates on social media channels, as well as, create mailings without missing a beat.
November 3rd
10:00 am – 11:00 am
Republic Title Park Cities

TREC Legal Update
Material mandated by TREC
Legal Update II covers a host of topics that TREC has deemed critical for all licensees to be familiar with, including fiduciary and ethical duties of the agent, guidance on dealing with water and mineral rights, and important updates to tax laws and rules.
November 8th
10:00 am – 2:00 pm
Republic Title Uptown

Instagram Reels for Real Estate Agents
If you’re looking to connect with more buyers and sellers while growing your brand, then Instagram Reels could be for you. Reels is a powerful way to cast a larger net to grow your followers and to showcase your listings to a wider audience. In this course you will learn the quick and easy steps to create a reel and given examples of content ideas so you can get started today.
November 15th
10:00 am – 11:00 am
Zoom

Tax Planning Program Specifically For Real Estate Agents
Join us for a Lunch and Learn with special guests from Greenlight Tax Group. They’ve designed a tax planning program specifically for REALTORS®. They will share strategies to help you minimize your tax liability and keep more of what you make year after year. Please register in advance, as seats are limited.
November 15th
11:00 am – 1:00 pm
Republic Title Uptown

Traps and Pitfalls for Licensees
This class draws attention to the issues most likely to cause problems for licensees in a real estate transaction including real estate fraud, missing effective date in the contract, ‘practicing law’ and more.
November 17th
10:00 am – 11:00 am
Zoom

Top Ten Contract Addenda
Join us to review 10 of the most commonly utilized TREC contract addenda including Third Party Financing Addendum, Addendum for Backup Contract and more. APPROVED TREC CONTRACT COURSE
November 30th
10:00 am – 11:00 am
Zoom

September 2022 DFW Area Real Estate Stats

October 24, 2022

by Republic Title Real Estate Articles Resources Stats

September 2022 Stats are IN!

In Collin County, all arrows point up with regard to new and active listings, average sales price, average price per square foot and days on market. The number of sales is down about 26% from 2021. In Dallas County, new listings are down 5.5% from this time last year, along with the number of sales down almost 23% from 2021. The number of active listings is up 22.5% from last year, along with increases in days on market (up 27%), averages sales price (up 9%) from the prior year and prices per square foot (up 16%). Denton County sees the biggest increase in active listings up over 100% from last year, along with increases in new listings, average sales price, average price per square foot and days on market. Not surprisingly, we see much of the same statistics in Rockwall and Tarrant Counties.

The good news is that buyers have more options than they did in 2021. However, even with the increased inventory, there is still only an average of 2.5 month supply in all counties (according to NTREIS TRENDS report) which still makes it very much a sellers’ market in North Texas (with people still moving here)! Happy Selling!

For the full report from the Texas A&M Real Estate Research Center, click here. For NTREIS County reports click here.

DFW Area Golf Courses

October 20, 2022

by Republic Title Resources

The weather is cooling down for fall and it is the perfect to hit the golf course. Here is a list of DFW Area Golf Courses that we have put together.

Bear Creek Golf Club
3500 Bear Creek Ct., DFW Airport
Bearcreek-golf.com

Bent Tree Country Club
5201 Westgrove Dr., Dallas
Benttreecc.org

Bridlewood Golf Club
4000 W. Windsor Blvd., Flower Mound
Bridlewoodgolf.com

Brookhaven Country Club
3333 Golfing Green Dr., Farmers Branch
Clubcorp.com/clubs/brookhaven-country-club.com

Brook Hollow Golf Club
8301 Harry Hines Blvd., Dallas
Brookhollowgc.org

Buffalo Creek Golf Club
624 Country Club Dr., Rockwall
buffalocreekgc.com

Canyon Creek Country Club
625 W. Lookout Dr., Richardson
Canyoncreekclub.com

Cedar Crest Golf Course
1800 Southerland, Dallas
Golfcedarcrest.com

Cottonwood Valley
4150 N MacArthur Blvd, Irving
cottonwoodvalley.com

Cowboys Golf Club
1600 Fairway Dr., Grapevine
Cowboysgolfclub.com

Coyote Ridge
1640 West Hebron Pkwy., Carrollton
Coyoteridgegolfclub.com

Dallas Country Club
4155 Mockingbird Ln., Dallas
Thedallascc.org

Dallas Firewheel Golf Park
600 W Campbell Rd., Garland
Golffirewheel.com

Dallas National Golf Club
1515 Knoxville, Dallas
Dallasnationalgolfclub.com

El Dorado Country Club
2604 Country Club Dr., McKinney
Eldoradocc.com

Frisco Lakes Golf Club
7170 Anthem Dr., Frisco
Friscolakesgc.com

Gentle Creek Country Club
3131 Prosper Tr., Prosper
Gentlecreek.com

Gleneagles Country Club
5401 W. Park Blvd., Plano
clubcorp.com/Clubs/Gleneagles-country-club.com

Grapevine Golf Course
3800 Fairway Dr., Grapevine
grapevinegc.com

Golf Club of Dallas
2200 W. Red Bird Ln., Dallas
Golfclubdallas.com

hackberry creek country club
1901 W Royal Ln, Irving
clubcorp.com/clubs/hackberry-creek-country-club

Heritage Ranch Country Club
465 Scenic Ranch Cir., Fairview
Heritageranchgolf.com

Indian Creek Golf Club
1650 W. Frankford Rd., Carrollton
Indiancreekgolfclub.com

Irving Golf Club
2000 East Shady Grove Rd., Irving
Irvinggolfcourse.org

Keeton Park Golf Course
2323 Jim Miller Rd., Dallas
Keetonpark.com

Lake Park Golf Course
6 Lake Park Rd., Lewisville
Lakeparkgc.com

Lakewood Country Club
6430 Gaston Ave., Dallas
Lakewoodcc.com

Las Colinas Country Club
4400 N. O’Connor Rd., Las Colinas
clubcorp.com/Clubs/las-colinas -country-club.com

Luna Vista
11223 Luna Rd., Dallas
twincreeksgolf.com

Mansfield National
3750 National Pkwy., Mansfield
mansfield-national.com

Maridoe Golf Club
2020 Kelly Blvd., Carrollton
Maridoe.com

Meadowbrook Golf Course1
851 Jenson Rd., Ft. Worth
Fortworthgolf.com

Northwood Country Club
6524 Alpha Rd., Dallas
Northwoodclub.org

Oak Hollow Golf Course
3005 N. McDonald St., McKinney
Oakhollowgc.com

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REPUBLIC TITLE NAMED ONE OF THE DALLAS BUSINESS JOURNAL’S BEST PLACES TO WORK FOR 2022.

October 20, 2022

by Republic Title Inside Republic Title

Republic Title was named the #1 Best Place to Work in North Texas in the Large Company category by the Dallas Business Journal on October 20th as part of their Best Places to Work program.

The Dallas Business Journal is pleased to announce the 20th annual Best Places to Work Awards. The list of winners was whittled down from well over 300 nominated firms. These businesses had the highest employee survey scores among their peer companies in their size category.

Selected companies were divided into five size categories based on employee count. On October 20th, the Dallas Business Journal will honor its 2022 Best Places to Work class at a luncheon at the Renaissance Dallas at Plano Legacy West Hotel.

For more information on this year’s Best Places to Work honorees, visit: https://www.bizjournals.com/dallas/news/2022/09/01/best-places-to-work-large-extra-large-2022.html

Republic Title Frisco Named a 2022 Faces of Frisco Business

October 19, 2022

by Republic Title Inside Republic Title Real Estate Articles Resources

We are excited to announce that the Republic Title Frisco office was recently named a 2022 Faces of Frisco business!

Republic Title is proud to be the leading title insurance company in Frisco and is committed to providing customers with exceptional service when handling the transfer of title and protecting their financial investment in a property. Buying or selling a home is the largest transaction most of us will make in our lives and Republic Title is the smart option for protecting your property rights.

Founded in 1991, Republic Title is proud to have our corporate headquarters in Collin County. With over 230 collective years of title insurance experience in the Frisco office, we have been named a “Best Place to Work” by the Dallas Business Journal and a “Top Workplace” by the Dallas Morning News for eight years in a row. Republic Title was also named “Best Title Company” in Frisco/Plano by Living Magazine.

At Republic Title, the mission is to add value to every customer we serve trough Proven Experience, Dedicated Service, and Lasting Relationships. Count on the experienced team at Republic Title to be your trusted partner when buying or selling a home, refinancing an existing mortgage, or obtaining a construction loan.

To view the October issue of Frisco Style and see all 2022 Faces of Frisco business, click here.

Spirit Of RTT Winners

October 17, 2022

by Republic Title Inside Republic Title

Each year Republic Title recognizes three employees with the Spirit of Republic award. This award is presented to employees who go above and beyond for the company and their co-workers. Each of these winners truly lives out Republic Title’s mission of adding value to every customer we serve through Proven Experienced, Dedicated Service and Lasting Relationships.

Our 2022 winners are:

⭐Commercial Division Winner: Alan Henderson (pictured with Republic Title President Bo Feagin)
⭐Residential Division Winner: Blair Meador
⭐Support Division Winner: Rico Walker

Thank you to these three amazing employees who have gone above and beyond and truly exemplify the spirit of Republic Title!

Texas Housing Insight August 2022 Summary

October 5, 2022

by Republic Title Real Estate Articles Resources Stats

The pandemic-induced housing frenzy is easing as the Fed’s aggressive monetary policies directly affect the housing market. Mortgage interest rates rose from 2.84 to 5.22 percent in the past year. Amid these robust rate increases, Texas’ housing market quickly dialed back sales while supplies have gradually accumulated. Despite the slowdown, inventory levels remain below historical levels, and prices are still high. While prices have dipped some in recent months, they still remain considerably high compared with before the pandemic. As of August, Texas’ median price remains 11.4 percent elevated from a year earlier.

Supply¹

Interest rates continued to increase following more aggressive Federal Reserve intervention. Despite mounting interest rate pressure, Texas’ single-family construction permits recovered 12,500 permits in August, rising 9.3 percent month over month (MOM). Permits rebounded in three of the state’s four largest metros (San Antonio being the exception). Houston (3,700) and Dallas (3,693) had the most permits, while Austin (1,609) and San Antonio (681) followed third and fourth in the state. Meanwhile, Texas’ single-family construction values continued to fall by double digits, tumbling to a two-year low. All major metros reported double-digit negative year-to-date (YTD) growth.

Permits for Texas’ multifamily sector corrected. After July’s abnormally high request of 12,500 construction permits, 9,000 permits were issued in August.

Total overall housing starts in the Southern Census Bureau Region also recovered some in August with 885,000 new starts. However, single-family housing starts, which account for the biggest share of the overall count, remained 100,000 units short of the year-ago average with 530,000. August’s boost could be partially explained by declining input costs such as lumber. The lumber producer price index (PPI) decreased for the third time in a row in August.

In the existing-home market, the state’s current supply has accumulated throughout the summer. Active listings rose more than 30,000 units since May. This loosening up of housing availability indicates a break-through considering the distinctly low inventories of the past two years. Texas’ housing supply, which had been below two months of inventory (MOI) from November 2020 to June 2022, ticked up to 2.4 months. San Antonio led with 2.7 months, and Dallas remained the tightest with two months (Table 1). The Texas Real Estate Research Center considers six to 6.5 months of inventory a balanced market.

Demand

As a result of higher mortgage rates, housing demand has fallen, and homes are sitting on the market longer. Sales improved slightly in August (5 percent MOM) from July’s steep decline, reaching a seasonally adjusted rate of 29,300 sales. Overall home sales have been in freefall since around April. At the current rate, 2022 sales will likely fall short of 2021. According to the Center’s Data Relevance Program, the sales level was down 16.3 percent from a year earlier.

Sales in all major metros remained low as mortgage pressures rattled buyers. Austin and Houston’s closed listings were most affected with a 20 percent year-over-year (YOY) reduction, while DFW and San Antonio pulled back more than 10 percent. Existing-home sales, which make up 80 percent of Texas’ housing market, inched down for the seventh straight month. Texas’ marginal recovery in August was concentrated in the remaining 20 percent of the housing market, where Dallas’ new-construction market had double-digit growth.

Texas’ average days on market (DOM) was 38 days, up from 29 days in March. However, compared with the five-year average of 57 days between 2014 and the early 2020s, the relatively short time suggests a persistent imbalance between sellers’ and buyers’ bargaining-power. Amid slowing sales, Austin’s market reacted most aggressively, doubling the listing time in the past five months, while DFW reacted most moderately.

When days on market are differentiated based on the home market, the existing homes’ DOMs are conspicuously lower than new homes’. This could possibly be due to differing price points as new homes tend to be more expensive than the average existing-home listing. Categorized by price cohorts, homes priced between $300K and $500K had the shortest listing time, taken off list in 34 days.

Prices

The downward trend for Texas’ median home price continued in August. The state’s seasonally adjusted median price was $342,000, falling more than $10,000 in three months. Prices dropped in all metros except San Antonio, which advanced $2,000 this month (Table 2). Dallas and Houston, Texas’ two largest MSA areas, reported modest declines of $2,000, while Austin took the biggest hit of $11,000. Although housing prices are recently under correction, they remain much elevated from year-ago prices, accelerating 11.4 percent YOY. Even for Austin, the price in this much-affected market was up 5.5 percent YOY.

The Federal Reserve is expected to impose more forceful monetary policies throughout the latter half of this year and likely into the upcoming year to combat inflation. While the ten-year U.S. Treasury bond yield persisted at 2.9 percent², the two-year counterpart continued to march upward. The spread between the ten-year and the two-year bond yields dipped further in the negative territory, indicating the market’s economic uncertainties about the near future. The Federal Home Loan Mortgage Corporation’s 30-year fixed-rate refrained from June’s high of 5.52 percent and slipped 30 basis points in the past two months. The last time the mortgage rate was over 5 percent was 2009. For more information on the effect of mortgage interest rates on purchase affordability, see “How Higher Interest Rates Affect Homebuying.”

The Texas Repeat Sales Home Price Index, which accounts for compositional price effects, corroborated the trend of depreciation. The index’s monthly decline was the second in a row. Annual appreciation slowed to 12.1 percent YOY in August compared with 20.4 percent YOY growth in January. While Dallas’ home price index remained above the state average, Austin’s YOY rate fell to a single digit, behind Houston’s yearly growth and down to the slowest appreciating metro.

Household Pulse Survey

According to the U.S. Census Bureau’s Household Pulse Survey, in spite of rising mortgage rates, the share of Texas homeowners current on their mortgage payments improved 60 basis points in August, and the percentage of people who were behind shrunk to 4 percent (Table 3). This implies that while the overall economy continues to decline, homeowner financial health has so far remained robust. Houston owners’ bolstered ability to pay their mortgage resulted in an increase in the state’s average owned free/clear homes ratio. On the other hand, when asked about future payments, fewer Texas homeowners were confident that they would not face foreclosure. The proportion of delinquent individuals at risk of foreclosure shot up 80 basis points to 8 percent (Table 4).