The Texas real estate market finished 2013 with one if its best years. There was a steady increase in sales volume and prices for single-family homes. We attribute the information to the Texas Association of Realtors’ Texas Quarterly Housing Report that was recently released.
The Texas real estate market showed strength in sales volume and price all year long and the fourth quarter was no exception,” said Dan Hatfield, chairman of the Texas Association of Realtors. “We’ve now seen year-over-year increases in both sales volume and price every quarter for more than two years. This makes it clear – demand for Texas homes is strong and enduring.”
The Texas Quarterly Housing Report indicated that 60,998 single-family homes were sold in Texas in the fourth quarter of 2013. How does this compare to the previous year? There was 6.78 percent more than the same quarter of 2012. During the same time frame, the median price for Texas homes was $172,600, up 8.48 percent from 2012-Q4, and the average price was up 8.88 percent to $226,216.
We anticipate that the trend is going to increase over the next couple years. While we may not have continuous price and sale surges, we anticipate a good real estate market for Houston, Texas at least for the next 8 years. The Houston market will continue to grow along with an increase in population and car accidents on roadways. For these reasons people are moving to neighborhoods closer to where they work. The new Exxon campus and real estate expansion near the Woodlands is a perfect example.
Chairman Hatfield concluded, “These results show that Texas continues to grow, which makes it even more important that we commit to providing the infrastructure our state needs to sustain that growth and maintain our quality of life. Texas Realtors will be actively supporting lawmakers in the upcoming election cycle to do exactly that.”
Why do we trust the TAR’s report? The Real Estate Center at Texas A&M University analyzes the Texas data by using statistics gathered from 48 multiple listing services in markets throughout Texas.
What is the Texas Association of REALTORS®? They are an organization that has approximately 90,000 members. It is a professional membership organization that represents all aspects of real estate in Texas. They are the voice of Texas REALTORS®.
– Article By Richard Weaver