Why 2015 could be a record year for Texas real estate
11/02/2015 | Author: Editorial Staff
Rising home sales and prices have Texas on track to set new records this year, according to the 2015-Q3 Texas Quarterly Housing Report released today. And even though the state’s relatively low inventory of homes indicates a strong seller’s market, Texas continues to attract growing numbers of homebuyers.
“At this current pace, 2015 could very well surpass 2007 as a record year for Texas home sales,” said Texas Association of REALTORS® Chairman Scott Kesner.
Click here to see an infographic with statewide data, including these highlights:
- 91,704 single-family homes were sold in the third quarter of 2015—a 7.8% increase from the same time last year.
- The average price increased 7.7% year-over-year to $199,900.
- Statewide housing inventory rose to 4.0 months’ supply. Markets with 6.5 months are considered to be balanced between supply and demand.
Want to see how your market performed? Download the full report issued by the Texas Association of REALTORS® that includes data for 25 markets.
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