Texas housing market plateaus in record-breaking 2018

​​​​​AUSTIN – For the fourth consecutive year, the Texas housing market broke records in home sales and median price, according to the 2018 Texas Real Estate Year i​n Review​ report by Texas Realtors.

Home sales across the state increased 1.7 percent in 2018, with 344,030 homes sold. 

This is less than the 4.1 percent, 4.5 percent, and 4 percent increases of 2017, 2016, and 2015, respectively.

Median home prices increased 4.4 percent from the year prior to $232,900. 

However, the increase in median home price was lower than the 6.2 percent, 7.7 percent, and 7.1 percent increases of the past three years.

Housing inventory across the state increased 0.2 months to 3.3 months of inventory in 2018. According to the Real Estate Center, a market balanced between supply and demand has between six and 6.5 months of inventory.

Homes spent the same length of time on the market in 2018 as in 2017: an average of 58 days. Active listings statewide increased 1.4 percent from 2017 to 2018.