Texas Housing Insight
August 2023 Summary
August was a positive month for Texas’ residential real estate industry. Despite persistently high interest rates, total home sales picked up 9.5 percent on the consumer side, and construction permits accelerated by 5.3 percent on the supplier side. Amid the growth, the median price slipped for the first time after seven consecutive upticks. While the price drop seemed noteworthy, it was moderate at $800 and may reflect a balanced market. With many sellers stuck with pandemic-era low rates and many buyers struggling to keep up with rising costs, the housing market does not signal any significant volatility anytime soon.
MetroTex provides current and relevant monthly and annual data reports with the support of the Texas Real Estate Research Center at Texas A&M University.Note: NTREIS no longer provides boundary data for MLS defined areas; therefore, that section of the report has been removed.
Texas A&M Data Series Descriptions
Data Series Description
Housing statistics are based on listing data from over 50 MLS (Multiple Listing Service) systems in Texas. Statistics for each geography were calculated based on listings of properties physically located within the mapped area presented with the statistics.
Metropolitan Statistical Area (MSA): Based on the multi-county area specified by The Office of Management & Budget in 2013.
Local Market Area (LMA): An area defined by the local Association/Board of REALTORS representing a logical market of homes that can be grouped together for meaningful statistical reporting.
Getting More Detail
For more detailed statistics about local areas, existing vs. new homes and breakout by property type, contact your local REALTOR® association. Click here for a list of contacts.
Data Release Dates
Statistics for geographies outside of the Houston metro area will be released on/near the 20th calendar day after month end. Statistics for the Houston metro area will be released on/near the 40th calendar day after month end.