Texas home sales, prices steadily increase in 3Q2019Texas home sales, prices steadily increase in 3Q2019https://www.recenter.tamu.edu/news/newstalk-texas/?Item=233532019-10-29T05:00:00Z2019-10-29T14:00:00Z

​​​​​​AUSTIN – Texas home sales and median price had steady increases in third quarter 2019, according to Texas Realtors' Texas Quarterly Housing Report.​​

Last quarter, 100,733 homes were sold statewide, an increase of 6.4 percent compared with 3Q2018. The median price increased 4.3 percent to $245,000. 

Of all the homes sold within the third quarter, 33.4​​​ percent were priced from $200,000 to $299,999, the highest share of sales among all price-class distributions. Homes priced from $100,000 to $199,999 represented the second-highest share of sales with 26.9 percent.

"The Texas housing market continued to spur strong demand during the third quarter," said Real Estate Center Chief Economist Dr. Jim Gaines. "Based on sales activity, we saw prices, months of inventory, and active listings experience significant growth in most of the markets across the state. During the remainder of the year, we expect attractive interest rates to incentivize homebuyers. In addition, new-home construction will continue to pick up in markets such as Houston and Dallas, leading to an increase in housing inventory availability."

There were 111,013 active listings in the third quarter, a 3.5 percent increase from 3Q2018. Texas homes spent an average of 54 days on the market, two days longer than the same period last year.

Statewide, housing inventory increased to 3.8 months of inventory, an increase of 0.1 months since last year. The Real Estate Center considers six- to 6.5-months of inventory a balanced market. ​

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