September 14, 2018
The number of homes sold in Texas—and the median price for those homes—continued to rise during the second quarter of 2018, according to the Texas Association of Realtors. The market recorded 100,227 homes sold — a 2.8% year-over-year increase — while median prices rose by 4.4% to $238,000, according to the TAR’s 2018-Q2 Texas Quarterly Housing Report.
Months of housing inventory in Texas decreased 0.1 months from the second quarter of 2017 to 3.9 months of inventory. According to the Real Estate Center at Texas A&M University, a market balanced between supply and demand has between 6.0 and 6.5 months of inventory.
“Despite the tight supply of homes on the market, growth in home sales volume and median home prices shows that the demand to own a home remains strong across the state,” said TAR chair Kaki Lybbert.
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