Texas has never seen home prices like this before

Image courtesy of freedigitalphotos.net

Texas home prices are the highest they’ve ever been, according to the 2015-Q2 Texas Quarterly Housing Report released today. 

In the second quarter of this year, the median price for Texas homes hit $200,000—an all-time high for statewide home prices. But that hasn’t slowed demand for housing statewide. In fact, Texas home sales are up over the same period last year. 

Click here to see an infographic of the statewide numbers that includes these highlights: 

• 88,906 single-family homes were sold in Q2-2015—a 4.7% increase from the same time last year.

• The average price increased 9% year-over-year to $258,786.

• Statewide housing inventory fell to 3.8 months. Markets with 6.5 months are considered to be balanced between supply and demand. 

Just want to see how your market performed? Download the full report issued by the Texas Association of REALTORS® that includes data for 25 markets. 

Source: https://www.texasrealestate.com/advice-for-texas-realtors/article/texas-has-never-seen-home-prices-like-this-before

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