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Texas hasn’t seen a housing inventory increase in years—until now

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08/01/2014 | Author: Editorial Staff

For the first time since 2011, Texas housing inventory has increased on a quarterly basis, according to the 2014-Q2 Texas Quarterly Housing Report released today.

This increase is good news for Texas real estate, says Jim Gaines, Ph.D., economist with the Real Estate Center at Texas A&M University. “A steady, ongoing supply of new housing stock—particularly in the first-time and move-up buyer market, where a majority of home-sales volume occurs—will be crucial to Texas housing market growth in the second half of 2014 and in the future,” Gaines says.

Here are a few highlights from the report:

  • 81,272 single-family homes were sold in Texas in the second quarter of 2014—a 49.67% increase in homes sold over the same quarter last year.
  • $187,300 was the median price of Texas homes, up 8.32% from 2013-Q2. 
  • The average price of Texas homes increased 9.64% quarter-over-quarter to $246,209.
  • Statewide inventory of homes rose to 3.6 months from an all-time low of 3.4 months in 2014-Q1.

The report uses data from multiple listing services in markets throughout Texas. To see how your market performed in the second quarter of 2014, click here to download the full report issued by the Texas Association of REALTORS®. 

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

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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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