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Dallas NewsSep 13, 2018
Texas has been one of the fastest growing housing markets in the country in the last few years.

The state has led the nation in homebuilding and Texas’ major metros – Houston, Dallas-Fort Worth, San Antonio, Austin – have had big increases in the number of preowned home sales.

But the latest snapshot of the Lone Star State’s hot housing market is a mixed bag.

While statewide home sales rose almost 3 percent in the second quarter from 2017 levels, sales in the D-FW area slowed for the first time in years.

And sales barely rose in the Austin area, according to the latest data from the Texas Association of Realtors.

“The demand for housing remains at an all-time high, but statewide we’re seeing a slower rate of increase in sales compared to previous quarters due to the lack of inventory of properties for sale,” Dr. James Gaines, chief economist with the Real Estate Center at Texas A&M University said.

Rising prices and higher mortgage rates have also dampened buying in some neighborhoods.

ven with the dip in sales, the D-FW led the state in second quarter home sales by real estate agents with 28,934 properties changing hands.

Source: Texas Association of Realtors
Source: Texas Association of Realtors

Houston-area home sales rose 3.6 percent in the second quarter from a year ago, and sales in the San Antonio area were up 4.7 percent.

D-FW home sales were 0.8 percent lower than in second quarter 2017.

Statewide median home sales prices rose by 4.4 percent in the period ending with June.

Prices were up 5.3 percent from a year ago in Austin and were 4.9 percent higher in the D-FW area.

D-FW had the biggest jump in the number of homes for sale in the second quarter of any major Texas metro area.

Inventory was up slightly in San Antonio, but fell in both the Austin and Houston areas.

“As home prices continue to increase, housing inventory statewide remains constrained and affordability continues to be a challenge for many homebuyers across the state,” Realtors association chairman Kaki Lybbert said. “As the demand for Texas homes is projected to be strong through the rest of 2018, Texas Realtors will continue to advocate for policies to make homeownership attainable for more Texans.