Steady Growth in Texas: The Lone Star State’s Competitive Housing Market
published on August 12, 2013
According to the Texas Homebuyers and Sellers Report issued in June 2013 by the Texas Association of REALTORS®, Lone Star State homeowners are not only finding homes faster, but buying more new homes, indicating a steadily growing, competitive Texas housing market.
Here are these and other key Texas real estate trends discussed in the report.
– Texas homebuyers are finding a home faster. The typical homebuyer searched 10 homes over eight weeks, compared to 10 homes over 12 weeks nationally.
– Texans prefer new homes. New-home buys in Texas accounted for 26 percent of all purchased homes, as opposed to 16 percent nationally.
– When it comes to buying a home, age does not come before beauty. Texas buyers ages 25-34 comprised the largest percentage of all homebuyers and first-time buyers.
– The majority of 2012 homebuyers were married couples: 69 percent in fact. That is the highest percentage Texas has seen since 2001!
– Fewer single women are buying Texas homes. Only fifteen percent of 2012 homebuyers were women, which is the lowest percentage since 2001.
– Texans are staying in their homes longer than before. The tenure of owning a home has increased in recent years to nine years in Texas and nationally.
– When it comes to buying a home, more buyers are turning to Texas REALTORS® for assistance. Eight-eight percent of Texans purchased homes through a broker or real estate agent last year.
– To find a buyer, 95% of Texans sought a REALTOR®. Only 5% of Texans sold 2012 homes without real estate agent assistance, but 60 percent of those already knew the buyer!
The ATX REALTORS® at Regent Property Group help Texas clients stay on top of the latest in real estate trends. On the lookout for a new Austin home? From a gorgeous two-story home in Travis Country to a ranch-style home in Brushy Creek, we’ve got you covered!
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