Mild Sales Increase in Q3 Texas Housing

The third quarter was a mostly quiet period for housing in the Lone Star State, according to new data from the Texas Association of Realtors.

During the third quarter, 91,248 homes were sold in Texas, a very mild 0.2 percent year-over-year increase. The median sales price for the quarter was $214,000, up seven percent from the third quarter of 2015.

Housing inventory and active listings also saw relatively mild upward activity—a 0.1-month uptick to 3.9 months of inventory and a 4.2 percent increase to 103,109 listings—while Texas homes spent an average of 53 days on the market, only one day more than the same period last year. Nonetheless, the trade group viewed the quarter as a success.

“Texas home sales in 2016 continue to edge out last year’s record-breaking sales volume, and in many local markets, growth is still very strong,” said Leslie Rouda Smith, chairwoman of the Texas Association of Realtors.