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​​​​​​​COLLEGE STATION – While existing-home sales rebounded at the national​​​​​ level, they dropped by a seasonally adjusted 2​ percent in Texas. 

Across the state, the lack of available homes suppressed resale activity in March, particularly in North Texas and Houston. Fort Worth closings fell 7 percent year over year, down 10 percent since November 2017.  

Statewide existing-home inventory sits at a record-low 3.1 months. The Real Estate ​Center considers a six- to 6.5-month supply a balanced market. 

Existing homes averaged just 52 days on the market as economic growth fueled housing demand, driving the median price to a seasonally adjusted $223,676, a record high for Texas. Rising home values and mortgage rates have yet to stifle intense demand.

For February 2018 housing data, read last month's Texas Ho​using Insight. March 2018 data will be published in the coming weeks. Subscribe to em​ail notifications to get notified when the report is updated. 

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