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Posted on September 14, 2018 - 10:24 AM
by Steven Dye
Texas home sales, prices continue to rise
AUSTIN (Texas Association of Realtors) – Texas home sales and median prices continued to rise in second quarter 2018, according to a report from the Texas Association of Realtors.
Across the state, 100,227 homes were sold in the second quarter, up 2.8 percent over the year. The median sales price increased 4.4 percent to $238,000.
Real Estate Center Chief Economist Dr. Jim Gaines said, “Home sales activity remained strong for the second quarter of 2018. The demand for housing remains at an all-time high, but statewide we’re seeing a slower rate of increase in sales compared to previous quarters due to the lack of inventory of properties for sale.”
Of all homes sold, 30.2 percent were priced from $200,000 to $299,999, and 29.2 percent were priced from $100,000 to $199,999.
Texas active listings increased 0.3 percent over the year to 110,330 listings. Homes spent an average of 87 days on the market.
Months of inventory fell 0.1 months to 3.9 months. According to the Real Estate Center, a balanced market has between six and 6.5 months of inventory.