Texas Home Sales on Track to Outpace 2007 Levels According to TAR Report

Texas Quarterly Housing Report Graphic DFWA

It may not be as frenetic as it was during the spring and summer, but 2015 is still posting some serious numbers.

According to the Texas Association of Realtors Quarterly Housing Report for the third quarter of 2015, home sales and prices throughout the state are on track to break records. Low inventory is mostly the reason why we’re still seeing some outstanding price growth in sought-after areas, and a healthy job market is continuing to bring in more and more homebuyers.

 

“At this current pace, 2015 could very well surpass 2007 as a record year for Texas home sales,” said Scott Kesner, chairman of the Texas Association of Realtors.

In the Dallas-Fort Worth-Arlington MSA, the median home price is $215,000, up 10.3 percent compared to third quarter 2014. Likewise, active listings are up 4.7 percent, and single-family home sales are up 8.9 percent.

Click here to see an infographic with statewide data, including these highlights:

  • 91,704 single-family homes were sold in the third quarter of 2015—a 7.8% increase from the same time last year.
  • The average price increased 7.7% year-over-year to $199,900.
  • Statewide housing inventory rose to 4.0 months’ supply. Markets with 6.5 months are considered to be balanced between supply and demand.

What are you seeing in your corner of North Texas?