It is no myth that the consumer is the driving force in the real estate industry in Texas. Below are some interesting changes that have occurred and will continue to mold the future of the housing market.
- The average age of a repeat buyer in Texas is 42
- The average age of a 1st time buyer in Texas is 31
- 35% of buyers are first time home buyers.
- Texas sellers stay in their home an average of 9 years
- Homeowners want information about real estate updates and relevant news about their community
- A 2012 poll revealed that sales equal 96% of asking price. This does not include price reductions or seller contributions
- There are 1900 people moving to Texas a day
- 92% of Texas home sellers used a real estate agent to sell their home. Only 8% were For Sale By Owner
- The best day to put a home on the market is on Friday
- The best day to hold an open house is Tuesday
- 74% of consumers believe the economy has gotten better and 71% think the economy will continue to get better in the next year
Texas is:
Big: The population is the 2nd largest in the U.S. with over 25 million people
Young: 27% of the Texas population is under 18 and only 10% is older than 65
Diverse: Approximately 9.5 million or 38% of Texans are of Hispanic descent; 12% are African American; 6% are other (primarily of Asian descent.
Texas Dream REALTORS® understands our client’s housing needs and serves Austin, San Antonio, and surrounding areas. Our expertise encompass military relocation, property management, farm and ranch sales, residential, new home construction, and commercial real estate. For more information on the housing market and specific community information in Austin or San Antonio, please call a Texas Dream Realtors agent today!