Texas real estate market shows strength across segments in 2016

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12/01/2016 | Author: Editorial Staff

The Texas Annual Housing Report released today by the Texas Association of REALTORS® shows broad demand for Texas real estate and continued sales growth.

“Texas is a national leader in real estate growth, housing demand, and development, which attracts homebuyers from across the country and around the globe,” said TAR Chairman Leslie Rouda Smith. “Texas’s diverse economy, rapid population growth, and high quality of life continue to fuel home sales activity across the state.”

Despite economic headwinds, demand increased for multiple property types and market segments in 2016. Small land sales were the strongest segment of the Texas real estate market in 2016, with nearly 19% sales growth year over year. Condominium sales saw double-digit growth across most major metros, new-home sales activity continued at a strong pace, and sales of homes priced at $1 million and higher continued to rise in 2016. 

Texas Quarterly Housing Report editions throughout 2016 showed that total sales are on pace for a record year, and Texas homes continue to have wide appeal. The Texas International Homebuyers Report showed that one in five international homebuyers from India choose to purchase a home in Texas. The Texas Homebuyers and Sellers Report indicated that 30% of homebuyers in Texas were purchasing their first home, and single women in Texas were twice as likely to purchase a home than single men.

“The continued growth of the Texas housing market this year despite a slowing Texas economy has been remarkable," Rouda Smith said. "As in 2016, housing development and affordability will remain key areas of focus throughout the state next year.”

Categories: Research
Tags: research, texas annual housing report


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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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