Total Texas housing sales fell 6.4 percent during the first quarter amid rising mortgage rates and weather-related disruptions that dampened business activity in February. Most of the
Market Update
Dated: May 18 2021
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Total Texas housing sales fell 6.4 percent during the first quarter amid rising mortgage rates and weather-related disruptions that dampened business activity in February. Most of the quarterly decline was attributable to decreased resale transactions priced less than $400,000, offsetting elevated luxury home sales in the existing-home market and overall new-home sales. Texas’ homeownership rate improved, although the proportion of owner-occupied units in the major metros persisted below the national and state average. Overall housing demand remained healthy but was constrained by depleted inventories, pushing median home-price growth into double-digit territory. Supply-side indicators corrected downward from record activity in the fourth quarter of 2020 but remained generally positive compared with year-ago levels. The unprecedented low level of inventory available for sale is the greatest challenge to Texas’ housing market, assuming the pandemic remains contained. (A&MRE Published)
Adrian Mata
I am a lifelong Temple Texan, Wildcat graduate, and proud husband to a lifesavingnurse. Owning a local business of 8 years has given me the opportunity to knowthe growing area well, and most important....
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IDX data last updated May 19, 2022 6:07 AM UTC
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