Austin American-Statesman staffer Shonda Novak reports on the rise in home sales and prices across the Lone Star state.
In the third quarter, 9,347 homes were sold in Central Texas, an 8.7% increase over the same period last year, while prices jumped 7.2% year-over-year, to $260,000, according to the Texas Quarterly Housing Report.
Statewide, there were 91,704 home sales in the third quarter, a 7.8 percent year-over-year increase, the report said. Texas home prices saw similar gains, with the median price rising 7.7 percent year over year to $199,900 in the third quarter.
“Overall, statewide numbers continue to be strong,” Scott Kesner, chairman of the Texas Association of Realtors, said in a written statement. “Last year fell just short of being the best year ever in Texas real estate, but 2015 has shown consistent year-over-year gains in both home sales and prices. At this current pace, 2015 could very well surpass 2007 as a record year for Texas home sales.”
Read what experts have to say about the housing market.