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Texas condo sales increase in 4 major metros

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Four-story condominium building with green front lawn next to a white residential home

07/08/2016 | Author: Editorial Staff

More young professionals and new retirees are choosing to purchase condos for their affordability, location, and ease of upkeep, according to the Texas Condominium Mid-Year Sales Report released today by the Texas Association of REALTORS®. The report shows that condo sales have increased in the first six months of 2016 compared to last year in Texas's four largest metros: Austin, Dallas, Houston, and San Antonio.

During the same period, median sales prices for condos registered double-digit increases in three of the state's four major metros, with Austin being the exception. This was the first year in the history of the report that condo and townhome data was reported separately. Townhome sales declined slightly year-over-year in Texas's major metros. Median prices for townhomes, however, did increase slightly in three of the four metros. Townhome prices fell in San Antonio.

"Housing affordability is becoming a big issue in Texas," said TAR Chairman Leslie Rouda Smith. "That’s why Texas REALTORS® have worked tirelessly this summer to encourage Congress to pass a bill that increases the number of condos that are eligible for FHA financing. That legislation, already passed unanimously by the House and now under consideration by the Senate, would be the positive step many Texans need to own a condo of their own.” You can take action here to let Sens. John Cornyn and Ted Cruz know that you care about affordable housing, efficiencies in FHA and rural loan processing, and the availability of a wide range of housing choices for aspiring homebuyers. 

Download the full report for more information about condo and townhome sales in your area.

Categories: Research
Tags: condo sales, townhome sales

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