Homebuyers in the Lone Star State have a wider selection of properties to choose from, according to the latest quarterly data report from Texas Realtors.
During the second quarter, active listings of Texas homes for sale reached 125,398, up by nearly 41% compared to the same time one year earlier. Also on the rise was months of inventory: 4.6 months, up from 3.1 months in the first quarter – this marks the highest months of inventory number in at least eight years.
The statewide median price of $345,000 was only 0.6% higher than during the second quarter of 2023, but the number of homes sold went down 3% to 93,417.
“Interest rates are a big part of the story,” said Jef Conn, chairman of Texas Realtors. “With today’s higher rates, some buyers are sitting on the sidelines and hoping rates or home prices come down. Homeowners who want to sell quickly will want to make sure their home is in good condition and priced competitively.”
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