Texas Housing Market: Supply, Demand, and Price

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According to Real Estate Center, Texas housing market advanced in 2017 as overall economic conditions remained favorable. Demand for housing was stronger in the existing home market as consumers searched for lower-cost options. Supply remained constricted, especially for houses under $300,000. The combination of strong demand and tight supply drove housing prices upwards across the housing market.

Supply

The Texas Residential Business Cycle (Coincident) Index, which measures current construction activity, increased marginally in January due to rising single-family housing construction values.  Single-family housing construction permits in Texas increased to 8,935 in January—a 25.6 percent increase. 

Laska Realty- Residential Construction Indicator, Texas

Demand

In January, overall economic growth led to increased housing demand. 

Total housing sales rose 4.1 percent in Texas. The market for existing homes continued strong in January. 

Housing Sales in Texas

Prices 

Overall, sales prices have risen steadily in Texas since late 2011.

Texas Median Home Sales Price