Texas home sales growth robust amid strong economic activityTexas home sales growth robust amid strong economic activityhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=234922019-11-21T06:00:00Z2019-11-21T16:00:00Z

​​COLLEGE STATION – According to the National Association of Realtors' latest report, housing sales through Multiple Listing Services rebounded across the nation in October, rising 4.6 percent year over year. Texas doubled that growth amid robust economic activity. 

Researchers from the Real Estate Center at Texas A&M University said last year's combination of rising interest rates and falling oil prices stalled the housing market, setting the stage for the positive reading. Despite these base-year effects, the current trend points steadily upward. 

Texas sales surpassed a monthly high after accounting for seasonal factors and are projected to close the year up around 3.2 percent annually, while national sales look to be slightly below 2018 levels. Lower mortgage rates may encourage buyer activity into the holidays. ​

Nationally, exsiting-home sales rose 1.9 percent over the month in October. The median existing-home price for all housing types was $270,900. 

Existing-home sales in the South (the region that includes Texas) increased 4.4 percent to an annual rate of 2.35 million in October, up 7.8 percent from a year ago. The median price in the South was $234,900, a 6 percent yearly increase.​

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