5 reasons 2014 was a great year for Texas real estate
12/02/2014 | Author: Editorial Staff
Homebuyers came from other states and other countries by the thousands to own a piece of Texas this year, according to the 2014 Texas Annual Housing Report released today.
“It’s a great time to live in Texas,” says Texas Association of REALTORS® Chairman Dan Hatfield. “The high demand for Texas real estate is not being fueled by speculation and investment activity—it’s driven by the thousands of people of move to the Lone Star State daily. People are moving to Texas from across America and around the world to take part in our state’s booming economy, business-friendly environment, and quality of life.”
Here are a few examples of what drove Texas real estate this year:
- Texas gained more out-of-state residents than any other state.
- Low inventory made condo and townhome sales the fastest-growing housing type.
- Luxury home sales were one of the fastest-growing price classes ($1 million or more).
- Home purchases by international buyers reached the highest level in five years.
- Demand for housing remains at an all-time high, while inventory remains low.
Download the full report issued by the Texas Association of REALTORS® to read more.
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