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Single-Family Sales Expected to Maintain “Rapid Clip” Across TX

Texas single-family sales are expected to maintain “a rapid clip” this year, with an 8.4% projected increase,” said research economist Dr. Luis Torres with the Texas Real Estate Research Center at Texas A&M University.

“That assumes mortgage rates remain relatively low, and the economic reopening continues as vaccines are widely distributed,” he said. “Home sales would be even stronger if not for persistently low inventories.”

Total Texas housing sales stabilized in November following record-setting levels the previous month. Building permits and housing starts normalized after months of strong activity. On the other hand, average days on market fell to just 44 days.

Torres labeled the lack of housing inventory as “extreme,” and said the depleted inventory contributed to double-digit annual growth in the median home sales price.

“The shortage of homes priced less than $300,000 pushed buyers toward higher-priced homes,” he said.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Economy