Texas Home Prices Up 8 Percent in February

COLLEGE STATION (Real Estate Center) – Existing single-family home sales in Texas had a 1 percent year-over-year increase last month while the median price jumped 8 percent.

According to February 2015 Texas MLS data (as of 11 a.m. today), 17,986 homes were sold last month, roughly 100 more than in February 2014 but 2,600 more than in January 2015.

The median price was $187,200 compared with $174,100 a year ago and $179,000 in January.

Months’ inventory was at 3.1 months. Real Estate Center economists consider 6.5 months a balanced market.

February 2015 home sales data for most Texas MLSs are posted on the Center’s website.