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Big state, big prices: Texas home prices highest ever

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Staff writer ▼ | August 3, 2015
Texas home prices hit an all-time high in the second quarter of 2015, while home sales remained strong amid high demand, according to the 2015-Q2 Texas Quarterly Housing Report by the Texas Association of Realtors.
Texas home sale
Housing   The Texas Association of Realtors:
According to the report, Texas home sales increased 46.3 percent from 2015-Q1 and 4.7 percent year-over-year to 88,906 home sales.

During the same time frame, the median price for Texas homes increased 8.1 percent from 2014-Q2 to $200,000 and average price increased 9 percent year-over-year to $258,786. This is the first time the median price for Texas homes has risen to $200,000 and an all-time high for Texas home prices.

Monthly housing inventory continued to decline, falling 9.2 percent year-over-year to 3.8 months.

Inventory is still firmly within a seller's market, as the Real Estate Center at Texas A&M University estimates that a monthly housing inventory of 6.5 months is a level at which supply and demand for homes is balanced.