In the 2019 Texas Homebuyers and Sellers Report released by Texas REALTORS®, just over half of homebuyers surveyed cited finding the right property as one of the most difficult parts of the process.
“We still have a tight supply of homes for sale in most areas of the state, which makes it challenging for buyers,” said Tray Bates, 2019 chairman of Texas REALTORS®. “We’re also seeing home prices rising faster than incomes, especially for first-time homebuyers. One key to a successful home search is for buyers to identify the features they value most in a home.”
The top reason for buyers choosing new homes was to avoid renovations or plumbing and electrical problems, according to the report. Price and value were most important to buyers who chose previously owned homes.
The top reason sellers put their home on the market was to move closer to friends or family with job relocations and moving closer to a current job coming in second and third. Sellers spend a median of 10 years in their homes, and the median sales prices was $70,000 higher than what they paid for their homes. The median length of time on the market was four weeks.
Eighty-nine percent of buyers and 85% of sellers said they would definitely or probably recommend their agent to others or use their agent again.