Texas Realtors releases annual Texas Homebuyers and Sellers Report

Austin, TX – March 30, 2022 (PRNewswire) Today, Texas Realtors released the 2022 Texas Homebuyers and Sellers Report, providing in-depth insights into the demographics, motivations and opinions of Texas homebuyers and sellers who had a real estate transaction between July 2020 and June 2021. The report also outlines information related to Texas real estate consumers’ income, ethnicity, age and perceptions of the homebuying and selling process.

According to the report, the median household income for Texas homebuyers was $107,500, $5,500 more than the national median. Thirty-three percent of homes purchased during the reporting period in Texas were new homes, compared to 15% nationwide.

“Understanding who homebuyers and sellers are and what they want is imperative to Texas Realtors, especially as housing demand in our market remains red hot,” said Russell Berry, 2022 Chairman of Texas Realtors. “The insights provided in the Texas Homebuyers and Sellers Report are extremely valuable, equipping Texas Realtors with information to better support our clients.”

Among the report’s findings, 16% percent of homebuyers purchased homes in small towns, up from 10% a decade ago.

The majority of homebuyers in Texas (61%) were married couples, followed by single females (20%), single males (10%) and unmarried couples (7%). The median age of Texas homebuyers was 47, one year less than the previous year. Of all Texas homebuyers, 32%, were first-time homebuyers, one percentage point more than last year.

For Texans who sold their homes, the most popular reason for putting a home on the market was to move closer to friends or family, followed by the desire for a larger home. Ninety-four percent of sellers used a real estate agent to help sell their home, and, of those, 92% would definitely or probably use that same agent again. Sellers spent a median of seven years in their homes, down two years from the previous report. The median sales price was $80,000 more than what sellers paid for their homes. The median length the home spent on the market was two weeks, which was half as long as the prior year.

Berry concluded, “Each year, Texans tell us the most difficult part of the homebuying process is finding the right property, followed by paperwork and understanding the overall process. Sellers are looking to Realtors to help price their homes and market them to potential buyers. It is more important than ever for homebuyers and sellers to work with a Texas Realtor to help guide them in realizing their real estate dreams.”

About the Texas Homebuyers and Sellers Report
Data from the 2022 edition of the Texas Homebuyers and Sellers Report is derived from the 2021 Texas Profile of Homebuyers and Sellers by NAR, which analyzes survey data among Texans who bought or sold a home between July 2020 and June 2021. Texas REALTORS® distributes insights about the Texas housing market throughout the year, including quarterly market statistics, trends among homebuyers and sellers, luxury home sales, international trends and more. To view the Texas Homebuyers and Sellers Report in its entirety, visit texasrealestate.com.

About Texas REALTORS®
With more than 150,000 members, Texas REALTORS® is a professional membership organization that represents all aspects of real estate in Texas. We are the advocates for REALTORS® and private property rights in Texas. Visit texasrealestate.com to learn more.

Contact:
Morgan Moritz
mmoritz@piercom.com

SOURCE Texas Realtors

Texas Realtors releases annual Homebuyers and Sellers Report

Austin, TX – April 30, 2021 (PRNewswire) Texas homebuyers are more diverse, while also earning higher incomes compared to national homebuyers, according to the 2021 Texas Homebuyers and Sellers Report released by Texas Realtors. The annual report provides in-depth insights into the demographics, motivations and opinions of Texas homebuyers and sellers who had a real estate transaction between July 2019 and June 2020. The report also outlines information related to Texas real estate consumers’ income, ethnicity, age and perceptions of the homebuying and selling process.

“The increase in household income is encouraging as well as the broader base of diversity in homebuyers,” said Marvin Jolly, 2021 Chairman of Texas Realtors. “Even with higher income levels, buyers are experiencing one of the most challenging markets in history right now, as the supply of homes for sale in most areas of Texas is extremely low.”

According to the report, the percentage of homebuyers who identified as Hispanic/Latino was 18%, up from 14% the previous year; 7% identified as Black/African-American, up from 5%; and 6% identified as Asian/Pacific Islander, up from 4%. White/Caucasian homebuyers fell from 78% to 69% between the two reporting periods.

The majority of Texas homebuyers (68%) were married couples, followed by single females (15%), single males (9%) and unmarried couples (6%). The median age of Texas homebuyers was 48, four years less than the previous year. The median household income for Texas homebuyers was $112,500, $16,000 more than the national median. Of all Texas homebuyers, 31% were first-time homebuyers, unchanged from last year.

Jolly continued, “Although median household incomes continue to rise, median home prices have risen aggressively. As the voice of Texas real estate, it is a priority for Texas Realtors to continue to speak with our state’s leaders and work to ensure that homeownership remains attainable, particularly for first-time homebuyers.”

For Texans who sold their homes, the most popular reason for putting a home on the market was to move closer to friends or family, followed by job relocations and a desire for a larger home. Sellers spent a median of nine years in their homes. The median sales price was $70,000 more than what sellers paid for their homes, and the median length the home spent on the market was four weeks.

About the Texas Homebuyers and Sellers Report
Data from the 2021 edition of the Texas Homebuyers and Sellers Report is derived from the 2020 Texas Profile of Homebuyers and Sellers by NAR, which analyzes survey data among Texans who bought or sold a home between July 2019 and June 2020. Texas REALTORS® distributes insights about the Texas housing market throughout the year, including quarterly market statistics, trends among homebuyers and sellers, luxury home sales, international trends and more. To view the Texas Homebuyers and Sellers Report in its entirety, visit texasrealestate.com.

About Texas REALTORS®
With more than 140,000 members, Texas REALTORS® is a professional membership organization that represents all aspects of real estate in Texas. We are the advocates for REALTORS® and private property rights in Texas. Visit texasrealestate.com to learn more.

Morgan Moritz
mmoritz@piercom.com

SOURCE Texas Realtors

Texas Realtors releases 2020 Texas Real Estate Year in Review report

Austin, TX – Texas, Feb. 25, 2021 (PRNewswire) For the sixth consecutive year, the Texas housing market broke records in terms of the number of homes sold and median price, while inventory levels hit a critical all-time low, according to the 2020 Texas Real Estate Year in Review report released today by Texas Realtors.

“Texas real estate sales broke records despite being in the middle of a pandemic,” said Marvin Jolly, 2021 chairman of Texas Realtors. “Housing inventory dropped to historically low levels in many areas of the state, and that shortage of homes for sale made many markets extremely favorable to sellers and challenging for buyers.”

Home sales across the state increased 9.5% in 2020, with 393,615 homes sold. This is a larger increase than the 3.8% increase in 2019.

Housing inventory dropped to 1.7 months of inventory, a decrease of 1.3 months from 2019. According to the Texas Real Estate Research Center, a market balanced between supply and demand has between 6.0 and 6.5 months of inventory.

Median home price increased 8% from the prior year to $259,230. Price class distribution showed that the largest percentage of homes sold across the state (34.5%) fell in the $200,000-$299,000 price range.

“The 2021 housing market will be characterized by strong demand with low inventories accompanied by strong price growth,” explained Luis Torres, Ph.D., research economist with the Texas Real Estate Research Center at Texas A&M University. “Inventories of homes priced under $300,000 will be especially low, affecting sales in that price range. The economic recovery helped by the additional federal fiscal stimulus and vaccination rates will contribute to Texas housing demand in 2021.”

Active listings statewide declined 22.1% from 2019 to 2020. Homes spent an average of 55 days on the market, four days less than 2019.

Chairman Jolly concluded, “Rising home prices coupled with the housing shortage has made affordability a challenge across our state. These issues remain top of mind for Texas Realtors as we continue through the 87^th legislative session. We will continue to champion legislation that will ensure homeownership remains attainable and a sound investment for years to come.”

About the Texas Real Estate Year in Review Report
Data for the Texas Real Estate Year in Review Report is provided by the Data Relevance Project, a partnership among local REALTOR® associations, their MLSs, and Texas REALTORS®, with analysis by the Texas Real Estate Research Center at Texas A&M University. The report provides annual real estate sales data from a statewide perspective and for 25 metropolitan statistical areas in Texas. To view the report in its entirety, visit TexasRealEstate.com.

About Texas REALTORS®
With more than 140,000 members, Texas REALTORS® is a professional membership organization that represents all aspects of real estate in Texas. We are the advocates for REALTORS® and private property rights in Texas. Visit texasrealestate.com to learn more.

Contact:

Morgan Moritz
mmoritz@piercom.com

SOURCE Texas Realtors