5 ways Texas continues to attract homebuyers
03/02/2015 | Author: Editorial Staff
You can add recent increases in household income growth and new-home sales to the list of reasons why Texas continues to attract homebuyers. In fact, demand for Texas homes is surpassing nationwide figures, according to the 2015 Texas Homebuyers and Sellers Report, released today by the Texas Association of REALTORS®.
"Our state's lasting job and economic growth continues to bring higher incomes for Texas families and reaffirms new-home sales and development as a critical component in meeting market demand," says Scott Kesner, chairman of the Texas Association of REALTORS®.
Here are a few highlights from the report:
- Median household income among first-time homebuyers rose to $72,000 in Texas and $68,300 nationally.
- The median household income of Texas homebuyers increased to $97,500, while the same factor was $84,500 nationwide.
- 72% of Texas homebuyers and 65% of U.S. homebuyers were married.
- New homes comprised 28% of Texas home purchases, compared to 16% of homes nationally.
- 16% of homebuyers in Texas purchased homes for multi-generational families. Nationwide, this figure was 13%.
Download the full report for even more insight into the Texas housing market.
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