Home Buying and Selling Support | Member Site | Login ABOUT MEMBERSHIP EDUCATION ADVOCACY INVOLVEMENT DIRECTORY Texas Home Sales Decrease, Median Price Rises in Third Quarter of 2021 Texas REALTORS® releases 2021-Q3 edition of the Texas Quarterly Housing Report The Texas housing market slowed slightly following a strong summer sales season, according to the 2021-Q3 Texas Quarterly Housing Report released today by Texas REALTORS®. The number of homes sold across the state declined 3.5% in the third quarter of 2021 compared to the previous year. This is the first time quarterly homes sales in Texas have decreased year-over-year since the second quarter of 2020. “Although we’re seeing a slight decline in homes sold from the same period a year ago, it’s important to remember we’re comparing to 2020’s record-breaking numbers,” said Marvin Jolly, chairman of Texas REALTORS®. “Across the state, we’re still experiencing strong demand for housing, and buyers are moving to Texas from all over the nation.” While the total number of Texas homes sold dipped to 115,272, the median sales price of $310,000 represents a 16.9% increase compared to the third quarter of 2020. Of all homes sold in the third quarter, 29.5% were priced from $200,000 to $299,999, the highest share of sales among all price-class distributions. Luis Torres, Ph.D., research economist with the Texas Real Estate Research Center at Texas A&M University, commented, “The housing frenzy due to the pandemic has possibly peaked. Home prices and homes sales are beginning to slow. In addition, months of inventory and home listings have reached a trough and are now increasing. Still, for the remainder of 2021, the housing market will be characterized by strong demand with low inventories accompanied by strong price growth, albeit at a slower rate.” Housing inventory in Texas decreased to 1.6 months in the third quarter, a decline from 2.3 months in the third quarter of 2020. According to the Texas Real Estate Research Center at Texas A&M University, a market balanced between supply and demand has between 6.0 and 6.5 months of inventory. Chairman Jolly concluded, “Our housing supply remains stretched, but we’re not seeing as many properties with a frenzy of offers above asking price like earlier in the year. Regardless, buyers in many markets still may find it challenging to get their offers accepted. We encourage anyone looking to buy or sell a home to work with a Texas REALTOR® to help you navigate the local real estate market.” Categories CCAR Events CCAR News Government Affairs Lone Star Homes Market Trends North DFW Real Producers Magazine Professional Development Spotlight Uncategorized Archives Archives Select Month November 2021 October 2021 September 2021 August 2021 July 2021 June 2021 May 2021 April 2021 March 2021 February 2021 January 2021 December 2020 November 2020 October 2020 September 2020 August 2020 July 2020 June 2020 May 2020 April 2020 March 2020 February 2020 January 2020 December 2019 November 2019 October 2019 September 2019 August 2019 July 2019 June 2019 May 2019 April 2019 March 2019 February 2019 January 2019 December 2018 November 2018 October 2018 September 2018 July 2018 Get In Touch! (972) 618-3800 6821 Coit Road, Plano, TX 75024 info@ccar.net Additional Resources FAQ Privacy Policy DMCA Policy Stay Connected REALTORS® are dedicated, knowledgeable real estate professionals who want to help you realize the dream of home ownership. Buying a home is one of the biggest financial decisions you will ever make. © 2021 Collin County Association of REALTORS®. All Rights Reserved | Site by GrowthZone