In the second quarter of 2013, demand for Texas homes surged again and the median price for homes in the state hit another all-time high, as reported in the Texas Quarterly Housing Report released today by the Texas Association of REALTORS®.
“The first half of the summer selling season has been very busy for Texas real estate,” said Shad Bogany, chairman of the Texas Association of REALTORS®. “Demand for homes steadily increased throughout the state, which has prompted competition for properties and is boosting prices.”
On a statewide basis, 79,760 single-family homes were sold in Texas in the second quarter of 2013. That is 17.78% more than the same quarter of last year and the most homes sold in a single quarter since the Texas Quarterly Housing Report began in 2009. In addition, the surge in demand was widespread around the state, with 43 of the 47 markets included in the report showing an increase in sales compared to last year.
Prices for Texas homes were strong in the second quarter of 2013 as well, continuing the steady increase seen in recent years and hitting all all-time high for the quarter. Specifically, the median price in 2013-Q2 was $177,300, up 9.98% from the prior year, and the average price increased 10.44% from the prior year to $235,075 this quarter. Those are the highest figures for median and average price ever seen in Texas real estate.
Read full article at TexasRealEstate.com