BREAKING NEWS

RNR Real Estate Briefs – HOU, AUS, DAL & more

Hines Lands Berg Restaurant in Downtown Tower

Harold Farb Skyscraper Sold

Hotels Sold for $137 Million

High Mortgages Frustrate Buyers

RNR Real Estate Briefs – HOU, AUS, DAL & more

REALTY NEWS REPORT - Logo

Banner
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact
FacebookLinkedinYoutubeEmail
REALTY NEWS REPORT - Logo

Texas Real Estate History: The Best Quarter Ever for Home Sales in the Lone Star State

by Realty News ReportAugust 2, 2016
Share0

AUSTIN – Texas home sales reached the strongest sales total in Texas real estate history as 91,418 homes were sold in the second quarter of 2016 – the highest sales total ever recorded in a three-month period, the Texas Association of Realtors reports.

“The last few months have been one of the strongest starts to the summer selling season in the history of Texas real estate,” said Leslie Rouda Smith, chairman of the Texas Association of Realtors. “Texas homes of all types and price classes are in high demand. This is especially true for homes priced under $200,000, which are often preferred by first-time homebuyers but also in shortest supply across the state.”

Second quarter sales rose 4.4 percent increase from the second quarter of 2015, the association said. More than 45 percent of homes sold in the second quarter were priced less than $200,000, while nearly 47 percent were priced between $200,000 and $500,000.

Home prices continued to rise amidst strong population growth and low housing inventory throughout the state, with the median price for Texas homes increasing 7.5 percent year-over-year to $215,000 in the second quart of 2016.

Housing inventory remained statistically unchanged at 3.7 months, a level that indicates a seller’s market. The Real Estate Center at Texas A&M University estimates that a monthly housing inventory between 6.0 and 6.5 months is a level at which the supply and demand for homes is balanced.

Jim Gaines, chief economist at the Real Estate Center at Texas A&M University, added, “While some local markets are still being impacted by declines in the energy sector and housing affordability challenges, overall the Texas housing market continues to perform very well. Flattening declines in statewide housing inventory and an increasing number of homes on the market indicate that Texas could finally be moving towards a more balanced housing market, although it will take some time to do so.”

August 2, 2016. Copyright 2016 Realty News Report.

Share0
previous post
New Hilton Brand Opens Hotel in Stafford, Near Houston
next post
Hotel Alessandra Construction Reaches Topping Out Milestone

Related posts

RNR Real Estate Briefs – HOU, AUS, DAL & more

Realty News ReportMarch 31, 2023

Hines Lands Berg Restaurant in Downtown Tower

Realty News ReportMarch 30, 2023

Harold Farb Skyscraper Sold

Realty News ReportMarch 29, 2023March 30, 2023

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Search News

Partners Ad
CBRE Ad
Arch Con Corporation Ad
Hines Ad
Avera Ad
Ziegler Cooper Ad
Lee & Associates Ad
2021 Realty News Report Ad
Property Logos
RNR - Lincoln Property Company
Hal Gordon - Property Tax Lawyer
Hunington Ad
Evergreen Commercial Realty
STREAM Ad
Hunington Ad

Let's Connect

logo
About US
Author Ralph Bivins is editor of Realty News Report, which covers regional and national news. Bivins recently received the Gold Award for Best Column in the National Association of Real Estate Editors Journalism Competition. Contact us
Follow us
FacebookLinkedinYoutubeEmail
@2022 All Right Reserved. Powered by CGS Digital Marketing
REALTY NEWS REPORT - Logo
FacebookLinkedinYoutubeEmail
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact