Texas Home Sales Seasonally Trending Upward
May 11, 2023Texas home sales are trending upward as we move through the second quarter of 2023 but are lower than pre-pandemic sales levels, primarily due to higher interest rates. Housing demand grew for two consecutive months, with total Texas home sales gaining 7.8 percent and 3.7 percent for the last two respective months, according to a TexasRead More
Large Land Sales Slow in Texas
April 21, 2023Large land sales in Texas have slowed from their feverish pace, but prices continue to rise, according to “Texas Land Market Latest Developments” by the Texas Real Estate Research Center. Annual sales for large land sales in Texas decreased 26.3 percent year over year in the fourth quarter of 2022, while quarterly totals decreased 25.8Read More
More Million-Dollar Homes Sold in Texas in 2022
January 17, 2023Over one quarter of Austin homes sold for $1 million or more The number of Texas homes that sold for $1 million or higher increased 17 percent in a year-over year comparison, based on sales from November 2021 to October 2022. This according to the Texas REALTORS® 2022 Sales of Million-Dollar Homes in Texas Report,Read More
Demand for Texas Land Backs off Feverish Pace
December 12, 2022“Demand for rural Texas land surged in the wake of COVID-19 and unrest in the state’s urban centers. However, that demand has since slowed along with price growth,” stated the takeaway from a Texas Real Estate Research Center report on land sales in Texas. The unusually large demand for Texas land first appeared following theRead More
Texas Housing Insight
November 17, 2022The housing market in Texas “continues to cool,” according to Housing Insight by the Texas Real Estate Research Center. The report cited increasing mortgage interest rates as the cause of diminishing housing affordability and, thus, demand. In September 2022, home sales fell 15.5 percent in Texas, according to the report. “Under the aggressive monetary policies,Read More
Texas Rural Land-Buying Frenzy Wanes
October 26, 2022The rural land frenzy Texas experienced during and post-pandemic appears to be waning. According to Texas Land Market Latest Developments by the Texas Real Estate Research Center at Texas A&M University, rural land sales volume in Texas dropped 26.5 percent from mid-2021 to mid-2022. TRERC Research Economist Dr. Charles Gilliland said, “Clearly, activity appears toRead More
Economic Outlook in Texas
June 30, 2022“In coming months, the Texas economy will face either prolonged high inflation, the pain that tends to follow from fighting inflation, or possibly both,” said the Texas Real Estate Research Center in an article entitled, “Outlook for the Texas Economy.” Headline inflation as reported by the Bureau of Labor Statistics increased 8.5 percent in MarchRead More
Outlook for Texas Housing Affordability Outlook
May 30, 2022Home prices in Texas continue to rise at a strong pace, according to a Texas Real Estate Research Center’s article, “Texas Housing Affordability Outlook.” The first quarter of 2022, Texas homes experienced a year over year increase in median price of 18.4 percent and a first-quartile sales price increase of 17.4 percent. This resulted inRead More
Is Texas’ Land Rush Slowing Down?
April 22, 2022In 2021, Texas rural land sales reached “unprecedented highs,” surpassing the previous year’s sales by 17.8 percent. Yet, the year ended with a “surprising slowdown,” according to the Texas Real Estate Research Center, with 953 fewer sales than in the previous fourth quarter. “Fourth quarter 2020 was crazy,” said Dr. Charles Gilliland, research economist withRead More
What Will Texas Real Estate Look Like Going into 2022?
September 15, 2021The Texas Real Estate Research Center released its 2021 Mid-Year Texas Housing & Economic Outlook, pointing to a more stable Texas housing market heading into 2022 once home inventory shortages from shutdown-related issues subside. The Research Center release stated that home listings have reached a “trough” and now are rising, easing some of the priceRead More
