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TX Condo Sales Post Slight Annual Decline
Texas condominium and townhome sales from July 2019 to June 2020 declined compared to the same period the previous year, Texas Realtors reported. Condo sales decreased 9.8% to 11,875 sales, while townhomes declined 0.2% to 8,616 sales.
“The slight decrease in sales volume is likely more a reflection of supply than demand,” said Cindi Bulla, chairman of Texas Realtors. “These properties remain a popular and rapidly growing sector of the Texas housing market. As the Texas population continues to boom and affordability challenges increase, condominiums and townhomes provide prime options for homeowners seeking closer locales to popular attractions and essential services at all price points.”
Texas condo inventory increased 0.3 months to 5.3 months of inventory, while townhome inventory declined 0.6 months to 4.3 months. As defined by the Real Estate Center at Texas A&M, a market balanced between supply and demand has between 6.0 and 6.5 months of inventory
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- ◦Economy
