Latest news with #TexasRealEstateResearchCenter
Malaysian Reserve
2 days ago
- Business
- Malaysian Reserve
Number of Texas homes for sale increased in Q2, while prices stayed steady
Report by Texas Realtors also shows buyer demand is similar to last year. AUSTIN, Texas, July 18, 2025 /PRNewswire/ — More Texans put their homes on the market in the second quarter this year, but the number of sales and median prices were similar to those at the same time last year, according to the 2025 Q2 Texas Quarterly Housing Report released today by Texas Realtors. Statewide, active listings increased 27.8% from the same quarter last year. Nearly every metro area had increases to active listings, most in the double digits. Abilene was the only market with a decline. Christy Gessler, Chairman of Texas Realtors, says this brings more balance to a market that was previously a big challenge for many buyers. 'Our association advocated for recent legislative actions around common-sense regulations and zoning laws to increase inventory statewide. We are still seeing hundreds of people per day coming to Texas and we are in serious need of expanded inventory at every price point. Texas Realtors will continue to work toward policies that make housing attainable and affordable.' Minor changes in price and sales The statewide median price was $340,000, down 1.4% from the same quarter last year. Most markets had slight increases, with 17 metros up and 9 down. The largest rise was 10.7% (Eagle Pass) and the largest decline was 2.1% (Austin). Closed sales were up slightly overall to 95,364, with a statewide increase of 1.4%. Markets were split, with decreases in 10 and increases in 16. Time on market and months of inventory both increased Months of inventory, which measures how long it would take to sell the homes currently on the market at the current pace of sales, increased from 4.5 months last year to 5.7 months in the second quarter of 2025. Four to five months of inventory generally indicates a market balanced between supply and demand, according to analysts at the Texas Real Estate Research Center. Statewide, homes stayed on the market for an average of 61 days, which is 6 days longer than during the same quarter last year. Only three metros saw declines and two of those had drops of a single day, while 23 metros had increases, 8 of which were jumps of 10 days or more. As market conditions continue to give buyers more choices and more time to decide, sellers have new challenges standing out from the crowd. 'They need to be strategic about their home's price and condition, because buyers will move on to the next house if the property needs work or is priced too high,' says Gessler. 'That's where the expert guidance of a Texas Realtor can make all the difference.' About the 2025 Q2 Texas Quarterly Housing Report Data for the Texas Quarterly Housing Report is provided by the Data Relevance Project, a partnership among local REALTOR® associations and their MLSs, and Texas REALTORS®, with analysis by the Texas Real Estate Research Center at Texas A&M University. The report provides quarterly real estate sales data for Texas and 26 metropolitan statistical areas in the state. The Texas Real Estate Year-in-Review Report in February is released in lieu of the Q4 report. Note that statistical comparisons to prior Texas Quarterly Housing Reports may not be valid due to external factors such as MSA boundaries being redrawn by the U.S. Office of Budget and Management. About Texas Realtors With more than 140,000 members, Texas Realtors is a professional membership organization that represents all aspects of real estate in Texas. We are the advocate for Realtors and private property rights in Texas. CONTACTDavid GibbsHahn
Newsweek
04-07-2025
- Business
- Newsweek
Texas Housing Market Going Backward as Homes Up for Sale Hit 14-Year High
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Texas home sales reported their weakest performance of the year to date in April, when the spring's homebuying season was supposed to be in full swing, according to a new report. This is happening even as for-sale inventory has surged above pre-pandemic levels and is now at a 14-year high—proving that more options are not enough to encourage buyers to return to the market in droves. What Is Going on in the Texas Market? Data from the Texas Real Estate Research Center (TRERC) of the Texas A&M University released earlier this week showed that in April, for-sale inventory in the Lone Star State climbed to its highest level since 2011, when the country was navigating the housing recession. As of April, the state counted 141,950 active home listings—31.4 percent more than a year earlier and 8 percent more than the previous month. There were also 41 percent more listings than they were in April 2019, before the COVID-19 pandemic broke out. This surge in inventory all across Texas is happening in part because many homeowners locked in by lower monthly payments have decided to stop waiting for mortgage rates to fall and are now ready to sell their properties. In part, it is happening because Texas built more new homes than almost any other state in the country over the past five years, with the exception of Florida. A home for sale in Austin, Texas, on May 22, 2024. A home for sale in Austin, Texas, on May 22, April alone, more than 60,000 new listings entered the Texas market, up 15 percent from a year earlier. But as buyers continue facing elevated mortgage rates, historically high prices and rising costs—including homeowners association fees and insurance premiums—new and existing homes for sale in the state are struggling to go under contract. April home sales in Texas were down 3.4 percent compared to a year earlier. In parts of the state, they faced even steeper declines. In the Austin-Round Rock-San Marcos metropolitan area, sales were at 2,554—down 13 percent year over year—while inventory was up by 26.9 percent to 13,061. In Dallas-Fort Worth-Arlington, sales were at 8,068—down 5.4 percent compared to a year earlier—while listings totaled 32,812, up 39.4 percent from April 2024. And in Houston-Pasadena-the Woodlands, sales were at 7,818—down 2.8 percent from April 2024—while inventory was up by 37.6 percent, with total listings of 35,214. More Price Drops in Sight This imbalance between sellers and buyers in the Texas market is bringing down prices across the state. In April, Austin reported a home price decline of 2.1 percent year over year. The decline was 0.4 percent in Dallas and 1 percent in San Antonio. At the state level, price growth essentially stalled: Home prices were up by a modest 0.3 percent year over year, the weakest gain since August 2023. While prices were still holding steady in Houston in April, a month later they began falling steeply. In May, the Space City reported a home price drop of 1.5 percent compared to a year earlier, the biggest since September 2023. "Prices are beginning to tick downward as the market shifts from a seller's market to a buyer's market," Shae Cottar, the chair of the Houston Association of Realtors, told Newsweek. "The higher interest rates have led to houses sitting on the market longer than they have in recent years. This, combined with the overall economic climate, means buyers are being a little more choosy about the homes they're considering," she said. "This leads to inventory stacking up as well as those homes sitting on the market longer. More inventory and longer days on the market mean sellers are having to renegotiate the starting prices up front now to attract the right buyers." The state's inventory surge is expected to continue in the coming months, further bringing down prices—especially as more new homes are expected to land on the market. In April, according to TRERC, single-family permits were up 7.6 percent year to date. In May, Redfin data showed, inventory in Texas was up by 19 percent year over year, for a total of 186,452 listings. There were 49,706 newly listed homes, up 5.9 percent year over year.
