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Steady Growth in Texas: The Lone Star State’s Competitive Housing Market

published on August 12, 2013

Austin Texas real estate demographics 2013Looking to buy new Texas home in a hurry? Whether it’s a home on Lake Austin or a home on Lake Travis, as long as it’s in Texas, you’re in luck!

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.

Key Trends:

– 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!

Austin luxury homesThe 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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