Texas home sales just keep growing

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Red Sold rider on a For Sale sign with a family in the background.

02/04/2015 | Author: Editorial Staff

As temperatures dropped at the end of 2014, Texas home sales spiked. In fact, the Texas housing market ended 2014 with one of the highest fourth-quarter single-family home sales volumes in history, according to the 2014-Q4 Texas Quarterly Housing Report.

Low interest rates coupled with decreasing inventory resulted in high demand for Texas homes during this period. “A dip in mortgage interest rates below 4% in the last half of 2014 created an ideal climate for this year-end surge in home sales growth,” says Jim Gaines, Ph.D., an economist with the Real Estate Center at Texas A&M University. “However, fewer homes on the market and strong demand maintained rising home prices and shrinking months inventory.”

The report, released Feb. 2 by the Texas Association of REALTORS®, also explains that demand for Texas home in the last quarter of 2014 resulted in an all-time low of 3.3 months inventory statewide. The Real Estate Center considers 6.5 months inventory to be a balance between supply and demand.

Download the full report to see how your market performed at the end of 2014. 

Categories: Research
Tags: research, market news, texas quarterly housing report, texas news


Comments

Dan Krohn on 02/07/2015

I need to learn some of the Texas Real Estate laws on Buying Houses!!


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The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.

While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.

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