Housing Report

Texas housing availability is up 41 percent from a year ago, Texas Realtors reports
AUSTIN (Texas Realtors) – Active listings of Texas homes for sale reached 125,398 in the second quarter this year, up nearly 41 percent from the same time a year ago, according to the Texas Quarterly Housing Report released last week by Texas Realtors. Meanwhile, the statewide median price of $345,000 was 0.6 percent higher than in 2Q2023. The number of homes sold fell 3 percent to 93,417.

Median price went up in 22 metros and down in four. The biggest increases were in Odessa (11.7 percent), Abilene (11.2 percent), San Angelo (8.4 percent), and Midland (6 percent).

The four metros with median price decreases experienced moderate declines: Austin-Round Rock-San Marcos (-3.2 percent), Lubbock (-4.1 percent), San Antonio (-1.3 percent), and Texarkana (-2.5 percent).

Months of inventory increased from 3.1 months at the end of the second quarter last year to 4.6 months this year. That marks the highest months-of-inventory number in at least eight years. Odessa was the only market where months of inventory declined and the only Texas area to register a decrease in listings compared to a year ago.

Statewide, homes spent the same number of days on the market compared to the second quarter last year. However, days on market increased in 20 metro areas and decreased in six.

Read TRERC’s Texas Housing Insight report for more in-depth analysis on the state’s housing market.

Steve Young with RE/MAX