Texas homebuyers say that finding the right property is the most difficult part of the homebuying process, according to the 2020 Texas Homebuyers and Sellers Report released by Texas REALTORS®. The annual report provides insights into the demographics, motivations, and opinions of Texas homebuyers and sellers who had a real estate transaction between July 2018 and June 2019.
“This report provides critical insight for REALTORS® in assessing the ever-changing needs and expectations of the consumers we serve,” said Cindi Bulla, 2020 chairman of Texas REALTORS®. “For example, despite access to myriad technology resources to search for homes, buyers continue to place a high value on local REALTOR® market knowledge when it comes to selecting the right home, negotiating the right price, and guidance through the buying process.”
Buyers who purchased previously owned homes mentioned better prices, value, and charm as the top motivating factors. Buyers of newly built homes cited avoiding renovations or plumbing and electrical problems as top reasons they purchased a new home.
For Texans who sold their homes, the most popular reason for putting a home on the market was to move closer to friends or family, followed by job relocations and proximity to their work.