Researching the current state of the housing market in Texas is a smart move if you’re thinking about making a purchase there. Those looking to purchase a home would benefit greatly from having more information. You can use the information in this report to see where the market is heading and what the future holds. This study on the Texas real estate market will include an examination of the current situation of mortgage interest rates as well as data on recent house sales within the state. Possibly house buyers would benefit from an analysis of the prognosis if they wanted to determine the investment potential of real estate in the current market.
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The Texas Housing Market: A Data Report
The median price of a home in Texas was $343,168 in September 2022. When compared to the median home price published in August, this represents a decline of roughly 1%. The number of home sales in September went down as well as the median price, which dropped by roughly 1%. In Texas, there were 31,017 reported house sales in September, which was lower than the 33,884 reported in August. There were also more houses available in September 2022, with 90,198 listed on the Texas Multiple Listing Service. In comparison, there were just 85,938 postings in all of August of 2022. In particular, there is a significant increase in the number of houses available for sale compared to the same time last year, when there were just 55,877 properties on the market.
September 2022 Data
- Median House Price, Based on September 2022 Data, Will Be $343,168
- Market Share of Existing Homes: 31.017%
- In total, there are 90,198 listings in the Multiple Listing Service.
August 2022 Data
- Month-to-Month Changes in August 2022
- Average House Value: $345,000
- There are now 85,938 homes for sale on the Multiple Listing Service.
Annual Report – September 2021 vs. September 2020
- Cost of a Median Home in the U.S. is $308,000
- Home Purchases: 36,811
- There are now 55,887 listings in the Multiple Listings Service.
The Texas Housing Market: A Data Report
The median price of a home in Texas was $343,168 in September 2022. When compared to the median home price published in August, this represents a decline of roughly 1%. The number of home sales in September went down as well as the median price, which dropped by roughly 1%. In Texas, there were 31,017 reported house sales in September, which was lower than the 33,884 reported in August. There were also more houses available in September 2022, with 90,198 listed on the Texas Multiple Listing Service. In comparison, there were just 85,938 postings in all of August of 2022. In particular, there is a significant increase in the number of houses available for sale compared to the same time last year, when there were just 55,877 properties on the market.
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Pre-Qualify NowFreddie Mac compiles and publishes monthly interest rate reports for 30-year fixed-rate mortgages. Loans with a fixed interest rate and a period of 30 years are the norm for borrowers in the United States. While shopping around for a mortgage, it’s important to always acquire a personalized quote. The interest rate you qualify for will depend on several variables, including your credit score, the size of your loan, your debt-to-income ratio, and the sort of loan you take out.
Market Analysis for Texas Homes
In recent months, both the number of available properties and the median price have been on the rise. This may be a precursor to a more buyer-friendly market in the coming months. The Federal Reserve’s (Fed’s) decision to proceed with an interest rate hike at their September meeting caused rates to climb. However, this doesn’t necessarily imply a corresponding increase in mortgage rates. Future months may see rates staying around the same or even dropping.
Prospects of Potential House-Buyers
As price increases cool, the housing market finds stability again. Real estate prices have not skyrocketed like they did during the peak of the pandemic. There will be fewer sellers competing for customers’ attention, and housing prices will be more in line with supply and demand. Mortgage rates are higher now than they were in 2021, but homebuyers can still potentially refinance into lower rates in the future. The long-term investment potential of Texas real estate remains strong. It is expected that the housing market will continue to see robust demand for the foreseeable future. Home prices are expected to rise steadily, making a purchase now a wise investment.
Dream Home Mortgage can assist you
Are you looking for options to get a mortgage in Texas ? Dream Home Mortgage can assist you. Dream Home Mortgage, An Equal Housing Lender, a Division of Brazos National Bank, is committed to providing affordable mortgages with superior customer service. Contact a member of our team immediately at (972) 245-5626 to initiate the first-time homebuyer financing process with our trained staff. Please send your inquiry to Info@dreamhomemortgage.com
Disclaimer
This website’s content is only presented for informational purposes. Programs, rates, and terms are all subject to change without prior notice. Loan approval is based on the borrower’s credit, collateral, financial history, eligibility for the programme, and other variables that are subject to change at any time. Other limitations might be present. This is not a request for a loan. Dream Home Mortgage NMLS#334616 Brazos National Bank NMSL#473879 |www.dreamhomemortgage.com | Equal Housing Opportunity
