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Myers Jackson Explains the Texas Real Estate Market
MYERS JACKSON EXPLAINS the TEXAS REAL ESTATE MARKET
Texas Real Estate Market Texas Real Estate Market…Every so often, Texas A&M University’s Real Estate Center releases a report on how the real estate market is doing in Texas. The main points covered are Supply, Demand, and Cost. Due to the government shut down at the beginning of the year, market data was not released to the public, and A&M was not able to update past November 2018.
If we take a look at the national trends for housing, published by the National Association of Realtors, housing sales have “decreased 6.4 percent from November to a seasonally adjusted rate of 4.99 million in December.” Sales dropped 10.3 percent from last year’s 5.56 million home sales. The national median for home prices is hovering around $253,000 (this number has increased from the average in 2017). Homes are becoming more expensive, but nationally, they are not selling as fast as we would like.
The good news is that the housing market in Dallas- Fort Worth is booming. Texas has seen a faster job growth that the rest of the country. Non- Farm employment in Texas has increased by 3.2% vs the national average has only increased by 1.9%. Private ... more
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