November 02, 2021 — Austin
The Texas housing market slowed slightly following a strong summer sales season, according to the 2021-Q3 Texas Quarterly Housing Report released today by Texas REALTORS®. The number of homes sold across the state declined 3.5% in the third quarter of 2021 compared to the previous year. This is the first time quarterly homes sales in Texas have decreased year-over-year since the second quarter of 2020.
“Although we’re seeing a slight decline in homes sold from the same period a year ago, it’s important to remember we’re comparing to 2020’s record-breaking numbers,马文·乔利说, chairman of Texas REALTORS®. 在整个州, we’re still experiencing strong demand for housing, and buyers are moving to Texas from all over the nation.”
While the total number of Texas homes sold dipped to 115,272, the median sales price of $310,000代表16.9% increase compared to the third quarter of 2020. Of all homes sold in the third quarter, 29.5%的定价从200美元起,000 to $299,999, the highest share of sales among all price-class distributions.
路易斯·托雷斯博士.D., research economist with the Texas Real Estate 研究 Center at Texas A&米大学, commented, “The housing frenzy due to the pandemic has possibly peaked. Home prices and homes sales are beginning to slow. In addition, months of inventory and home listings have reached a trough and are now increasing. 仍然, for the remainder of 2021, the housing market will be characterized by strong demand with low inventories accompanied by strong price growth, 尽管速度较慢.”
Housing inventory in Texas decreased to 1.6 months in the third quarter, a decline from 2.3 months in the third quarter of 2020. According to the Texas Real Estate 研究 Center at Texas A&米大学, a market balanced between supply and demand has between 6.0和6.5个月的库存.
Chairman Jolly concluded, “Our housing supply remains stretched, but we’re not seeing as many properties with a frenzy of offers above asking price like earlier in the year. Regardless, buyers in many markets still may find it challenging to get their offers accepted. We encourage anyone looking to buy or sell a home to work with a Texas REALTOR® to help you navigate the local real estate market.”