Movin' on UP ...way up NORTH!

Texas Real Estate Developers and Global Alternative Investment Firm Värde Partners Acquire Windsong Ranch in Prosper, Texas

​​​​Carey Marin at BusinessWire writes that Tellus Group, a joint venture of Vä​​rde Partners and developers Craig Martin and David Blom, has purchased the Windsong Ranch from the Terra Verde Group. 

The 2,030-acre master-planned​ community is at 1001 Windsong Pkwy. S. At full build-out, the community will have 3,100 single-family homes, 600 acres of open green space, and 150 acres of mixed-use development. 

It will be the first North Texas development to offer​ a Crystal Lagoon (I bet the folks in Rowlett are pretty jealous). The five-acre lagoon will open in spring 2019.

Homes will be priced from the $200,000s to over $1 million. Builders include American Legend Homes, Belclaire Homes, Britton Homes, Chesmar Homes, Darling Homes, Drees Custom Homes, Grenadier Homes, Highland Homes, Huntington Homes, and MainVue Homes.

DFW home sales see first Y-O-Y decline in nearly two years

 CHILL OUT!

Steve Brown at the Dallas Morning News says that North Texas home sales actually fell 3% in June, marking the first year-over-year decline in almost two years. 

Last month, 10,754 preowned single-family homes were sold, according to data from the Real Estate Center and the North Texas Real Estate Information Systems. 

With June's decline, preowned home sales are up just 1 percent so far this year compared with 2017's record sales. 

Median home sales prices were up 7 percent over the year, hitting a record high of $273,000. ​

​There was a three-month supply of homes in the area. The average North Texas home was on the market for 38 days​. 

In June, there were 10,998 pending sales. There were 24,174 homes listed for sale in the metro, up 12 percent over the year.  

So, that's a cooling of the market.  Not a bursting bubble.  A corrective slowdown.  We think that is good news.