Overview of the Texas real estate market
The Texas real estate market has been on a steady rise over the past few years, with a strong economy and a growing population fueling demand for housing. In this article, I will provide a comprehensive overview of the current state of the Texas real estate market, including trends, forecasts, and predictions.
The Texas real estate market is one of the largest and most diverse in the country, with a wide range of properties available at different price points. According to data from the Texas Association of Realtors, the median home price in Texas was $280,000 in 2020, an increase of 8.7% from the previous year. The average days on the market for homes in Texas was 43 days, indicating a strong demand for properties.
The state’s strong economy – Texas has a diversified economy, with industries such as energy, technology, healthcare, and manufacturing contributing to its growth. According to the Texas Workforce Commission, the state added more than 800,000 jobs in the 12 months ending in March 2021, indicating a robust job market.
The state’s growing population – Texas is the second-most populous state in the country, with a population of more than 29 million. The state’s population is expected to continue growing in the coming years, which will increase demand for housing.
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