The Texas housing market is making moves: 2019 marked the fifth year that Texas broke records for the number of homes sold and the median home price, according to the 2019 Texas Real Estate Year in Review by Texas Realtors. Houses are now going for over $200,000 on average while the number of homes sold increased by four percent. But this explosive growth also comes at a price as homeownership becomes increasingly expensive for Texans. Rising costs and lack of affordable housing inventory will push an increasing amount of potential buyers out of range.
For the fifth consecutive year, the Texas housing market broke records in terms of the number of homes sold and median prices, according to the 2019 Texas Real Estate Year in Review report issued by Texas Realtors.
"There is no doubt that the Texas housing market continues to shine," said Cindi Bulla, 2020 chairman of the statewide association. "However, two of every three homes being sold are closing for more than $200,000, which puts home ownership out of reach for many Texans.
"This continued challenge is a top priority of Texas Realtors, as affordability needs to be addressed before it becomes a crisis,"she said.
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