First quarter of 2013 sets aggressive pace for Texas real estate this year
Texas Association of Realtors releases 2013-Q1 edition of the Texas Quarterly Housing Report
AUSTIN, Texas, May 1, 2013 /PRNewswire-HISPANIC PR WIRE/ -- Today, the Texas Association of Realtors released the 2013-Q1 edition of the Texas Quarterly Housing Report, showing surging demand for Texas homes at the start of the year as well as rising prices and shrinking inventory. Fueled by Texas' population and job growth, the report bodes well for the summer selling season. Shad Bogany, chairman of the Texas Association of Realtors, commented, "2012 was a strong year for Texas real estate and, based on these first-quarter results, 2013 looks to be even stronger. We've heard a lot about the growth of Texas and now we're starting to really see the impact on our real estate market."
As featured in the report, 53,937 single-family homes were sold in Texas in the first quarter of 2013, which is 17.53 percent more than the same quarter of the prior year. Of the 48 markets included in the report, 40 markets featured increases in sales, indicating the surge is broad-based throughout the state.
The median price for Texas homes in 2013-Q1 was $158,000, which is 7.04 percent more than the first quarter of 2012. In the same timeframe, the average price was $204,718, 6.87 percent more than 2012-Q1. The median price for Texas homes has steadily increased, exceeding or matching the price of the prior year every quarter since the Texas Quarterly Housing Report began in 2009.
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