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Texas Q2 Home Sales Hit New Peak

Phil Hall
Aug 08, 2016
The second quarter saw 91,418 homes sales in Texas, the highest volume ever in the state, according to new data from the Texas Association of Realtors

The second quarter saw 91,418 homes sales in Texas, the highest volume ever in the state, according to new data from the Texas Association of Realtors. The second quarter’s sales were 4.4 percent higher on a year-over-year basis.

Pricewise, the median price for Texas homes in the second quarter was $215,000, a 7.5 percent year-over-year increase. More than 45 percent of Texas homes sold in the second quarter were listed as less than $200,000, while nearly 47 percent were priced between $200,000 and $500,000.

There were 98,495 active listings in Texas during the second quarter, which was 4.1 percent higher than on year earlier. Texas homes were on the market for an average of 54 days during this period, one day less than the same time last year, while the housing inventory of 3.7 months was statistically unchanged from the first quarter of this year.

“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 Austin-based trade group. “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.”

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