Texas housing demand diversifies in 2016

​AUSTIN – ​​The demand for Texas real estate grew this year with robust sales activity among several types of property, according to the Texas Annual Housing Report​ by the Texas Association of Realtors. 

Demand increased among first-time homebuyers, single women, and international buyers, especially those from Asia, over the last year. The report showed that 30 percent of Texas homebuyers were first-time buyers, and that single women were twice as likely to purchase a home than single men.

International buyers from India purchased more homes in Texas than in any other state, with one in five homebuyers from India buying here.

Condominiums, new homes, luxury homes, and small land parcels also saw higher demand. The Texas Condominium Mid-Year Sales Report​ showed condo sales experienced double-digit growth in most of the major metropolitan areas in the first half of 2016.

​Sales of homes priced $1 million and higher continued to rise throughout the state, and 30 percent of Texas homes purchased in a 12-month period were new homes. 

The total number of Texas home sales is on track for another record​ year in 2016, as sales posted modest but steady gains while inventory continued to remain low.​