The Texas housing market saw a slight increase in home sales volume in the third quarter while median prices also continued to rise. The Texas Quarterly Housing Report, released today by the Texas Association of REALTORS®, shows that 91,248 homes were sold in the past quarter, representing a 0.2% increase compared to the third quarter of 2015. The median sales price of $214,000 was a 7% jump in the same timeframe.“Texas home sales in 2016 continue to edge out last year’s record-breaking sales volume, and in many local markets, growth is still very strong,” said Leslie Rouda Smith, chairman of the Texas Association of REALTORS®.
Housing inventory and active listings rose slightly—0.1 months to 3.9 months of inventory and 4.2% to 103,109 listings, respectively—while Texas homes spent an average of 53 days on the market, which is one more day than the same period last year.
