What Did Texas Homebuyers Sellers Look Like In 2015

What Did Texas Homebuyers Sellers Look Like In 2015

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The annual Texas Homebuyers and Sellers Report for 2015 was just released and showed that Texas housing demand and new home development continue to remain high, but the median household income for Texas homebuyers has decreased slightly.   Here are some highlights:

  • From July 2014 to June 2015, the median household income of Texas homebuyers fell 0.4 percent to $97,100. Nationally, the median household income for homebuyers rose 1.9 percent to $86,100 during the same time frame.

  • New home sales continued to grow during the same time frame. Thirty percent of Texas homes purchased between July 2014 and June 2015 were new homes, a two percentage point increase from the same time period the previous year. Nationally, the share of new home sales remained unchanged at 16 percent of all U.S. home purchases.

  • First-time homebuyers in Texas are getting younger, while repeat buyers are getting older. From July 2014 to June 2015, the median age of first-time homebuyers in Texas decreased one year to 31 years old, while the median age of repeat buyers increased three years to 53 years old. The median age for all Texas homebuyers was 45 years old, unchanged from the previous report.

  • The percentage of first-time homebuyers in Texas increased slightly, rising one percentage point to 30 percent of all Texas homebuyers between July 2014 and June 2015. Nationally, the percentage of first-time homebuyers decreased one percentage point to 32 percent of all U.S. homebuyers during the same time frame.

Other key statistics from the report include:

  • The percentage of married homebuyers in Texas decreased two percentage points year-over-year to 70 percent.

  • Twice as many single women purchased a home as single men. From July 2014 to June 2015, fourteen percent of Texas homebuyers were single women, while seven percent of Texas homebuyers were single men.

  • Homes in Texas are typically larger and newer than homes sold nationwide. The median size for a three-bedroom, two-bathroom home purchased in Texas was 2,060 square feet, compared to 1900 square feet nationally. The median year homes purchased between July 2014 and June 2015 were built was 2003, compared to 1991 nationally.

  • Fifteen percent of homebuyers in Texas purchased a home for a multi-generational family, meaning children over the age of 18 or aging parents would also be living in the house. Nationally, this was 18 percent.

  • The tenure of owning a home decreased one year in Texas and nationally, to eight years in Texas and nine years nationally.


Contact me when you are ready to discuss the market and your options for buying and/or selling a home.

 

Eric Miscoll

REALTOR®

Rogers Healy and Associates

Eric@RogersHealy.com

(817) 235-8698

http://eric.rhadfw.com/

 


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Phone: 817-235-8698
Dated: March 4th 2016
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About Eric: I moved my family with four children to Dallas 12 years ago from Northern California where I had gro...

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Location & Address

Eric Miscoll
3001 Knox Street #210
Dallas, TX
817-235-8698