The Texas Association of REALTORS® released the Texas Quarterly Housing Report for the second quarter of 2012. These statewide figures are really impressive. If you would like more information, contact Gayle or Alta. Here are the highlights:
- The median sales price of Texas homes in the second quarter of 2012 was $161,400, which is 7.45% more than 2011-Q2.
- The average sales price had a similar jump, up 7.13% from second quarter 2011, to $213,674.
- In addition to statewide improvements in sales volume and price, the “months inventory” figure improved. Indicating the balance between supply and demand, the Texas market featured 5.9 months of inventory in 2012-Q2, which is 2.2 months less than 2011-Q2. The Real Estate Center cites 6.5 months of inventory as a market in which demand is balanced with supply.
- In the second quarter of 2012, 67,334 single family homes were sold in Texas, 13.04% more than the second quarter of 2011.