The median home price paid among Texas homebuyers in 2017 was $259,500, according to the new Texas Homebuyers and Sellers Report issued by the Texas Association of Realtors
. Within the Lone Star State, the median household income among homebuyers increased from $94,200 in 2016 to $101,400 last year; in comparison, the nationally median income of homebuyers was $88,800.
According to the report, the percentage of homebuyers who identified as African-American was eight percent in 2017, up from five percent the previous year. Seven percent identified as Asian, up from four percent, while those who identified as Hispanic remained consistent with prior years at 14 percent. The share of single female homebuyers decreased by three percentage points to 16 percent and while the share of single male buyers fell one percentage point to eight percent.
However, the percentage of married Texas homebuyers increased 2 points to 68 percent. The share of first-time homebuyers increased from 30 percent to 32 percent, while the median age of first-time homebuyers went from 32-years-old to 33-years-old. The median age for homebuyers in Texas increased for the fourth straight year as is now at 47-years-old.
“As we mark the 50th anniversary since President Lyndon Johnson signed the Fair Housing Act
into law, it's good to see diversity increasing among homebuyers in Texas,” said Kaki Lybbert, Chairman of the Texas Association of Realtors. “Our diversity is one of our state's great strengths. Texas Realtors will be leading the way to make even more progress to ensure that homeownership is attainable for all Texans in all types of real estate transactions and at all price points.”