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Texas Housing Insight November 2024 Summary

February 28, 2025

by Republic Title Real Estate Articles Resources Stats

November 2024 data dashboard with the following metrics: a 2.2% decrease in total home sales, $336,838 in median home price, a 6.81% increase in mortgage rates, and a 8.9% increase in single-family starts.

Home sales typically cool off by October following the busy summer homebuying months. This year is a little different as sales in both September and October came in higher than they did during the summer. With the sales momentum extending into early fall, November total home sales took an expected seasonal downturn. Housing inventory is on the rise as homes take longer to sell. This more than offsets a decline in new listings (a decline that reflects a more cautious stance among prospective sellers amid higher mortgage rates). Home prices, in the meantime, have remained relatively the same. Interest rates increased for the first time since spring 2024, defying the Federal Reserve’s second interest rate cut on Nov. 7. New single-family construction slowed down in November. Smaller markets outside the “Big Four” metros led the declines in privately-owned housing units authorized by building permits.

Sales Decrease, New Listings Follow

November home sales came in 2.2 percent lower than the previous month at a total of 28,399 transactions, driven largely by a seasonal contraction in the Houston market, where sales dropped 10.7 percent to 7,153. Austin followed with a 3.9 percent decline to 2,454 total sales. Sales were up 1.2 percent in San Antonio, totaling 3,003 transactions, while sales in Dallas remained relatively stable, edging up by 0.7 percent to 8,445 transactions.

Table 1. Home Sales Volume containing data for October, November and MOM Change for San-Antonio-New Braunfels, Houston-Pasadena-The Woodlands, Texas, Austin-Round Rock-San Marcos, and Dallas-Fort Worth-Arlington

November’s new listings saw a notable decline, reflecting a more cautious stance among prospective sellers amid higher mortgage rates and a seasonal market slowdown. Among the Big Four, Dallas had the most significant month-over-month (MoM) drop, down 8 percent to 11,353 active listing at the end of November. Houston followed with a 3.5 percent decrease (14,022), while San Antonio and Austin recorded more moderate declines of 1.3 percent (4,338) and 1.2 percent (3,742), respectively. The overall contraction in new listings may indicate sellers are adjusting expectations in response to mortgage rates defying the Fed’s interest rate cuts. Following the Fed’s second interest rate cut in November, mortgages rates moved in the opposite direction.

Statewide average days on market (DOM) edged up by one day to 62 days in November. In Austin, DOM was up from 73 to 75 days. DOM was up by one day in Houston (52) and Dallas (57). San Antonio was the only major metro to see a decrease in DOM, improving from 74 to 73 days, a reflection of increased buyer activity and more competitive pricing in the region.

Statewide housing inventory was up in November. Total active listings increased by 1.1 percent to an inventory of 124,195 by the end of the month. Among the Big Four, San Antonio and Houston saw inventory rising by 2 percent and 1.8 percent to a month-end inventory of 13,939 and 30,553, respectively. Dallas’ housing inventory remained relatively stable, edging up by just 0.2 percent. In Austin, active listings declined 0.8 percent from the previous month to 10,501 by the end of November.

Statewide pending listings increased in November by 2.2 percent, rising from 28,340 to 28,971. Across the Big Four, pending listings exhibited mixed trends, reflecting varying levels of buyer activity. Austin led with a 7.9 percent increase, rising from 2,644 to 2,852, suggesting a rebound in buyer interest despite broader market conditions. Houston saw pending listings up 6 percent for a total of 7,770. Pending listings declined in Dallas, down 4.6 percent from 8,491 to 8,101. San Antonio saw a more moderate decline of 2.1 percent, with pending listings decreasing from 3,095 to 3,029.

Interest Rates Up Again

In November, both Treasury yields and mortgage rates experienced notable increases, defying the Fed’s second interest rate cut on Nov. 7. The average yield on the 10-year U.S. Treasury Bond rose by 26 basis points (bps) to 4.36 percent, reflecting heightened capital market expectations of inflationary pressures building up in the economy. Similarly, the Federal Home Loan Mortgage Corporation’s 30-year fixed-rate mortgage climbed 38 bps to 6.81 percent.

New-Home Starts Decline

Statewide building permits declined by 10.5 percent from October to November. The declines were led by smaller markets, where November’s privately-owned housing units authorized by building permits were 37.8 percent below October’s. In the Big Four metros, the declines were more moderate: Dallas (9.7 percent), Austin (7.1 percent), Houston (6.7 percent), and San Antonio (5.1 percent).

Seasonally adjusted statewide single-family housing starts decreased by 8.9 percent since October to 13,037 units. All Big Four metros had a downturn. San Antonio and Dallas had the sharpest decrease at 18.9 percent (941) and 13.4 percent (3,289), respectively. Houston was down by 9 percent (3,925), while Austin fell 7.4 percent (1,445).

The total value of single-family housing starts climbed from $27.73 billion in November 2023 to $34.51 billion in November 2024. At $12.14 billion, Houston accounted for 35.2 percent of the state’s total starts value. Dallas followed with $9.39 billion (27.2 percent).

Home Prices Remain Steady

Texas’ median home price remained relatively stable in November, inching down by 0.1 percent from $336,428 in October to $336,838. Among the Big Four, Houston had the most significant decline, with prices falling 2 percent from $339,079 to $332,298. San Antonio followed with a 0.7 percent decrease, from $304,564 to $302,398. Dallas only saw a marginal 0.1 percent decrease from $402,046 to $401,744, indicating relative price stability. Austin recorded the highest price appreciation, rising 0.5 percent MoM to $436,142 amid strong pending listing activities.

Table 2. Median Housing Prices containing data for October, November and MOM Change for Dallas-Forth Worth-Arlington, Austin-Round Rock-San Marcos, San Antonio-New Braunfels, Texas, and Houston-Pasadena-The Woodlands.

The Texas Repeat Sales Home Price Index (Jan 2005=100), which is a more accurate reflection of home price changes, fell 0.4 percent MoM in November but was up by 2 percent year over year (YoY). Austin’s annual appreciation remains below the state’s average and fell by 0.8 percent YoY in November.

*All measurements are calculated using seasonally adjusted data, and percentage changes are calculated month-over-month, unless stated otherwise.

Source: Texas Housing Insight | Texas Real Estate Research Center (By Yanling Mayer, Joshua Roberson, and Junqing Wu – February 24, 2025)

January 2025 DFW Real Estate Stats

February 26, 2025

by Republic Title Resources Stats Video

As we move into 2025, the North Texas real estate market continues to show resilience and steady growth. Inventory is expanding, home values remain stable, and buyer activity is picking up across the region. While economic shifts and seasonal fluctuations will shape the market’s trajectory in the coming months, early indicators suggest a solid foundation for another active year in North Texas real estate.

Key Market Trends by County

Collin County saw a 42.4% increase in active listings and a 24.6% rise in new listings, reflecting growing inventory. The average sales price held steady at $535,348 (up 0.8%), while closed sales inched up 3.2%. Homes are taking longer to sell, with the average days on market increasing by 20% to 66 days.
Dallas County experienced a 34.9% surge in active listings, coupled with a 26.2% jump in new listings, indicating a strong influx of available properties. Closed sales dropped 5.7%, and the average sales price edged up 1.9% to $510,137. Days on market increased to 57, up 18.8% from the prior year.
Denton County continued to grow, with active listings up 32% and new listings rising 19.5%. The average sales price increased by 3.7% to $541,503, while closed sales saw a slight 2.1% bump. The average days on market increased to 64 days, a 25.5% rise.
Rockwall County posted a 33.1% increase in active listings and an 8.9% rise in new listings. The average sales price climbed 11.8% to $541,236, and closed sales grew 12.3%. Homes lingered longer on the market, with the average days on market reaching 84, a 33.3% increase.
Tarrant County saw a 16.2% increase in new listings and a 33.1% rise in active listings, signaling a broader selection for buyers. The average sales price rose 2.1% to $419,912, while closed sales were slightly down by 1%. Homes stayed on the market for an average of 62 days, up 19.2% year-over-year.

What’s Next for 2025?

With rising inventory levels and relatively stable price growth, North Texas remains a competitive yet promising market for both buyers and sellers. As we progress through the year, market conditions will be influenced by interest rates, economic trends, and local demand. Will inventory continue to balance the market? Will home values remain strong? The answers will unfold as 2025 takes shape, but one thing is clear—North Texas continues to be a powerhouse in real estate.

At Republic Title, we’re here to help you navigate this ever-changing market with confidence. Whether you’re buying, selling, or investing, our expertise ensures a smooth transaction every step of the way. Here’s to a year of new opportunities in North Texas real estate!

Our stats infographics include a year over year comparison and area highlights for single family homes broken down by county. We encourage you to share these infographics and video with your sphere.

For more stats information, pdfs and graphics of our stats including detailed information by county, visit the Resources section on our website at DFW Area Real Estate Statistics | Republic Title of Texas.

For the full report from the Texas A&M Real Estate Research Center and for NTREIS Local Market reports click here.

Denton County Condo Stats are not available for
January 2025 at this time.

2024 DFW Real Estate Year-End Stats at a Glance

January 28, 2025

by Republic Title Resources Stats Video

Our fourth annual stats report of the DFW real estate market is here!

We’ve taken our monthly stats-at-a-glance reports from January through December of 2024, totaled, averaged, and compared the data to the numbers from 2023. The result is an annual report of the DFW real estate market in 2024.

For more stats information, pdfs and graphics of our stats including detailed information by MLS area and condo stats, visit the Resources section on our website at DFW Area Real Estate Statistics | Republic Title of Texas.

December 2024 DFW Real Estate Stats

January 28, 2025

by Republic Title Resources Stats Video

As we close the chapter on 2024, North Texas has proven once again why it’s a shining star in the real estate world. With an increase in listings, steady price appreciation, and a growing reputation as the top market for real estate investment, the Dallas-Fort Worth area has solidified its place as a powerhouse. Let’s reflect on how we rounded out 2024 in key counties of North Texas.

Collin County experienced a 39.5% increase in active listings, 18.1% growth in new listings, and a 12.1% rise in closed sales over December 2023. The average sales price dropped down 1.1% to $561,938, and the average days on market increased by 26% to 63 days.

Dallas County recorded a 10.3% rise in new listings, 9.9% growth in closed sales, and a 29.5% surge in active listings from a year ago. The average sales price climbed 15.4% to $590,049, with the average days on market increasing to 54 days, up 31.7%.

Denton County saw significant growth, with active listings rising 29.7%, new listings up 21.4%, and closed sales increasing by 14.6%. The average sales price rose by 5.8% to $580,487, and the days on market increased to 58 days, up 7.4%.

Rockwall County posted a 28.1% jump in active listings, an increase of 13% in new listings, and a 7.1% rise in closed sales. The average sales price climbed 15.8% to $556,204, while the average days on market rose to 87 days, up 19.2%.

Tarrant County experienced a 16.7% rise in active listings, a 4.5% increase in new listings, and a 7.6% growth in closed sales. The average sales price rose by 4.6% to $443,756, while the average days on market increased by 18.8% to 57 days.

As we step into 2025, the North Texas real estate market stands poised for what could be a transformative year. According to the Emerging Trends in Real Estate, a trends and forecast publication, undertaken jointly by PwC and the Urban Land Institute , the DFW Metroplex was recently named the nation’s top spot for real estate investment and development for 2025. Only time will tell how this year will play out, but one thing is certain: North Texas remains a beacon of opportunity and promise. At Republic Title, we’re excited to navigate the possibilities with you, offering expertise and guidance every step of the way. Let’s see what 2025 has in store!

For the full report from the Texas A&M Real Estate Research Center and for NTREIS Local Market reports click here.

Texas Housing Insight October 2024 Summary

January 15, 2025

by Republic Title Real Estate Articles Resources Stats

All measurements are calculated using seasonally adjusted data, and percentage changes are calculated month-over-month, unless stated otherwise.

October 2024 data dashboard: Total Home Sales +8.8%, Median Home Price $335,773, Mortgage Rates 6.4%, Single-Family Starts 8.7%

Home sales typically cool off by October, but this year is a little different with sales in both September and October higher than they were during the summer. The rate of new listings is still on the rise resulting in rising inventory levels. Home prices, on the other hand, have remained the same. Interest rates increased for the first time since spring 2024. Finally, new-home permits were flat this month, but housing starts made a strong month-over-month (MOM) push.

Sales Increase, New Listings follow

Unlike most years when sales activity is high in July and August and low in the last quarter, 2024 showed the opposite. Sales dipped in August and increased in October by 8.8 percent (28,859) (Table 1). San Antonio had the highest sales increase, reaching almost 17 percent (2,906), followed by Houston with 12 percent (8,066) and Austin at 7 percent (2,488). Dallas was the only city among the Big Four to see a decline in sales (1 percent, or 7,432).

Table 1. Home Sales Volume containing data for September, October and MOM Change for San-Antonio-New Braunfels, Houston-Pasadena-The Woodlands, Texas, Austin-Round Rock-San Marcos, and Dallas-Fort Worth-Arlington

New listings have been increasing since July 2024 and continued to increase in October. Among the Big Four, Houston and San Antonio experienced MOM increases of 10.3 percent (14,627) and 8.6 percent (4,447), respectively. San Antonio has been almost at a vertical incline since mid 2024. Dallas and Austin grew by 7.3 percent (12,063) and 5 percent (3,774), respectively.

The state’s average days on market (DOM) fell to 61 days in October, a two-day drop. Houston had the largest decrease—from 53 to 50 days, a 4.3 percent decrease. Austin also fell from 73 days to 71 days, a 3.3 percent decrease, followed by San Antonio, which went from 74 days to 73 days, a 2.1 percent decrease. Dallas was the only Big Four city to see an increase in DOM—from 54 to 56 days, a 4 percent increase.

Texas’ number of active listings increased from 122,192 to 124,663 (2 percent). There has been no significant activity in October across the Big Four. Houston increased by 2.4 percent (30,345) followed by Dallas at 1.8 percent (28,704). Austin had a 0.6 percent decrease in active listings (28,704), while San Antonio had almost no activity, remaining at 14,000 listings.

Statewide pending listings have decreased from 29,006 to 28,516, a 1.7 percent overall drop. Dallas saw a 5.4 percent increase in pending listings, from 7,717 to 8,133, followed by Austin at 2.4 percent (2,565). Dallas has been consistently increasing since August 2024. Houston rose by 2 percent (7,577), while San Antonio fell by 0.6 percent (2,854).

Interest Rates Bounce Back

Treasury and mortgage rates both increased in October with the average ten-year U.S. Treasury Bondyield up by 38 basis points, reaching 4.1 percent. The Federal Home Loan Mortgage Corporation’s 30-year fixed-rate rose by 25 basis points to 6.43 percent. October was the first month of increase for both rates since spring 2024. Additionally, both rates have increased even as the federal funds rate has continued to drop.

New-Home Starts Rally

Statewide, building permits increased by 0.9 percent MOM in October. Except for Dallas, the Big Four had an upward trend with Austin at 17.7 percent, San Antonio at 7.6 percent, and Houston at 1.6 percent. Dallas fell by 8.6 percent.

Seasonally adjusted statewide single-family starts increased 8.7 percent MOM to 14,332 units. Most of the Big Four had an uptick. San Antonio and Dallas had the highest increases at 30.3 percent (1,164) and 25.6 percent (3,813), respectively. Austin was up by 1.5 percent (1,555), while Houston fell 0.7 percent (4,393).

The state’s total value of single-family starts climbed from $25.4 billion in October 2023 to $32.07 billion in October 2024. Houston accounted for 35.3 percent of the state’s total starts value, followed by Dallas with 27.2 percent.

Home Prices Remain Steady

Texas’ median home price didn’t change in October, remaining at $335,000 (Table 2). Dallas grew the most—3 percent, from $393,340 to $404,995. Austin followed at 1.8 percent ($430,304 to $437,835). San Antonio rose by 0.3 percent, an increase slightly above $1,000, and currently stands at $306,624. Houston fell 0.1 percent to $337,852.

Table 2. Median Housing Prices containing data for September, October, MOM Change for Dallas-Forth Worth-Arlington, Austin-Round Rock-San Marcos, San Antonio-New Braunfels, Texas, and Houston-Pasadena-The Woodlands.

The Texas Repeat Sales Home Price Index (Jan 2005=100), which is a more accurate reflection of home price changes, fell 0.3 percent MOM in October but increased 1.6 percent year over year (YOY). Austin’s annual appreciation remains below the state’s average and fell by 1.5 percent YOY in October.

Source: Texas Housing Insight | Texas Real Estate Research Center (By Joshua Roberson, Rhutu Kallur, and Junqing Wu – January 13, 2025)

November 2024 DFW Real Estate Stats

January 6, 2025

by Republic Title Resources Stats Video

The Dallas-Fort Worth (DFW) residential real estate market showed notable year-over-year growth across key counties.

Collin County experienced a significant increase in new listings (up 19.6%), active listings (up 38.4%), and closed sales (up 22.5%), with an average sales price up 4.3% and days on market rising to 51.

Dallas County saw a modest rise in new listings (up 3.5%) and closed sales (up 3.9%), while active listings jumped 30.3%, days on market increased to 47, and average sales price edged up 1.3%.

Denton County recorded a 7.8% gain in new listings, a 25.3% boost in active listings, and a 9.4% rise in closed sales, with an average sales price climbing 7.7% and days on market reaching 59.

Rockwall County had substantial growth in new listings (up 18.5%) and closed sales (up 9.4%), with active listings up 27.5%, average sales price increasing 1.9%, and days on market at 71.

Tarrant County was the only area with a decline in new listings (down 2.3%), but it still saw a 9% rise in closed sales, a 6.7% increase in average sales price to $450,000, and a 24.4% rise in days on market to 51.

Overall, the market remains dynamic, with increasing inventory, longer selling times, and rising prices reflecting a shifting balance between supply and demand. The DFW Metroplex is poised to lead the nation as one of the hottest real estate markets in 2025, driven by robust demand, strong economic growth, and an influx of new residents and businesses. At Republic Title, we are ready to help you navigate this dynamic market with confidence. Our expert teams deliver seamless title and escrow services designed to protect your investments and ensure smooth transactions. Whether you’re building, buying, or selling, trust us to make your real estate experience the best it can be in this exciting year ahead. Happy New Year!

For the full report from the Texas A&M Real Estate Research Center and for NTREIS Local Market reports click here.

Texas Housing Insight September 2024 Summary

December 5, 2024

by Republic Title Real Estate Articles Resources Stats

All measurements are calculated using seasonally adjusted data, and percentage changes are calculated month-over-month, unless stated otherwise.

The third quarter ended with an increase in home sales. Pending sales had a stronger increase, which could mean another positive month in October. Home prices increased slightly, and new listings decreased after stronger growth earlier in the year. In the new-home market, both permits and starts dipped in September. Growth was exceptionally strong for both in the spring, but the pace has since leveled out.

Sales Increase, New Listings Dip

After a dip in August, statewide seasonally adjusted home sales increased by 4.8 percent month over month (MOM), resulting in 26,165 homes sold (Table 1). Houston had the largest increase among the Big Four at 11.6 percent (7,150), followed by Dallas at 4.6 percent (7,202) and Austin at 2.6 percent (2,331). San Antonio was the only one among the Big Four to have a decrease in September (10.3 percent), resulting in 2,523 homes sold.

The number of new listings decreased by 490, marking a 1.1 percent fall from August. After Hurricane Beryl, which hit Texas in early July, new listings in Houston plummeted but bounced back in August. Even without the hurricane, the rate of new listings statewide appears to have slowed down after an aggressive start of the year. San Antonio saw an increase of 2 percent (4,104), followed by Austin at 1.2 percent (3,587). Houston and Dallas both decreased by 4 percent each at a current new listing count of 13,412 and 11,002, respectively.

The state’s average days on market (DOM) has remained at 62 days since August. Austin had the largest increase—from 71 to 73 days, a 2.8 percent increase. San Antonio increased from 75 to 76 days. Dallas fell from 55 days to 54 days while Houston remained at 53 days.

Texas’ number of active listings increased from 120,019 to 122,760 (2.3 percent). Active listings across the Big Four had mixed results in September, with Dallas and Houston rising at 4.7 (28,191) and 4.3 percent (29,724), respectively, while Austin fell by 2.7 percent (11,153). San Antonio had no significant changes and increased by only 0.15 percent.

Statewide pending listings have increased from 26,933 to 28,779, which represents 6.9 percent overall. Houston saw a significant increase in pending listings from 7,298 to 8,455 (a 15.8 percent rise), followed by Dallas at 8.2 percent (7,348). San Antonio and Austin had less fluctuation. San Antonio rose by 1 percent (2,702), and Austin fell by 0.5 percent (2,552).

Interest Rates on the Decline

Treasury and mortgage rates both declined in September but at a slower rate than the month before. The average ten-year U.S. Treasury Bondyield fell 15 basis points to 3.72 percent and has consistently been on the downward slope since April of 2024 September saw the lowest rates since June 2023. The Federal Home Loan Mortgage Corporation’s 30-year fixed-rate fell by 32 basis points to 6.18 percent. The Federal Reserve slashed the federal funds rate by 50 basis points and has suggested at least one more rate cut this year.

Single-Family Permits Fall

Statewide, building permits decreased by 1.2 percent MOM in September. Except for San Antonio, which was up 1.2 percent, the Big Four had a downward trend with Dallas falling 5.4 percent (4,021), Austin 3.4 percent, and Houston 1.2 percent.

Single-family construction starts fell after monthly increases since July 2024. Seasonally adjusted statewide single-family starts decreased 2.7 percent MOM to 13,170 units. Most of the Big Four fell in September. Dallas fell the most at 8.8 percent (3,126), followed by Houston at 3.7 percent (4,463) and Austin at 1.6 percent (1,524). San Antonio, meanwhile, increased by 4.1 percent (895).

The state’s total value of single-family starts climbed from $22.77 billion in September 2023 to $28.9 billion in September 2024. Houston accounted for 35.6 percent of the state’s total starts value followed by Dallas with 27 percent.

Home Price Rose Slightly

Texas’ median home price rose 0.9 percent MOM in September from $334,836 to $337,698 (Table 2). San Antonio grew by 2.9 percent at $307,363 and Houston by 1.3 percent at $337,651. Austin dipped by 1.6 percent to $430,011 while Dallas fell by only 0.1 percent to 394,079.

The Texas Repeat Sales Home Price Index (Jan 2005=100), which is a more accurate reflection of home price changes, fell 0.4 percent MOM in September but increased 1.7 percent year over year (YOY). Austin’s annual appreciation remains below the state’s average and fell by 0.9 percent YOY in September.

Source: Texas Housing Insight | Texas Real Estate Research Center

October 2024 DFW Real Estate Stats

November 21, 2024

by Republic Title Resources Stats Video

In October 2024, the real estate market in North Texas remained dynamic, with notable changes across Collin, Dallas, Denton, Tarrant, and Rockwall counties.

In Collin County, the number of active listings increased by 28.7% from last year, but the average sales price remained steady at $563,333, showing minimal change from the prior year. The area saw a 22.6% increase in new listings, totaling 1,972, while closed sales were up by 13%, reaching 1,300. On average, homes spent 55 days on the market, which was a 37.5% increase compared to the previous year.

Dallas County continued to see strong activity with a 17.7% increase in new listings, totaling 2,914. Active listings surged by 34.6%, bringing the total to 12,863. The average sales price in the county increased by 7.3%, reaching $567,372, while average days on market increased by 39.4%, now at 46 days.

In Denton County, new listings grew by 22.8%, while active listings rose by 30%. The average sales price increased by 5.6%, reaching $567,045. The number of closed sales saw a modest rise of 4.6%, with homes spending 52 days on the market, up by 20.9%.

In Tarrant County, active listings grew by 21.1%, while new listings increased by 13.5%. The average sales price reached $431,692, up by 5.6%, and homes spent an average of 51 days on the market, up 37.8% from last year.

Rockwall County experienced a strong increase in both new listings (10%) and active listings (34.1%), with a 3.4% increase in the average sales price to $516,372. Closed sales rose by 21%.

In summary, the North Texas real estate market remained active in October 2024, with strong growth in new listings and active inventory across all counties. Historically, leading up to a presidential election, it’s common for real estate activity to slow slightly as buyers and sellers take a wait-and-see approach to economic uncertainties. As we finish up the final quarter of 2024, all eyes are on 2025, with expectations that the market will continue to evolve in response to both economic conditions and the shifting political landscape.

For the full report from the Texas A&M Real Estate Research Center and for NTREIS Local Market reports click here.

September 2024 DFW Real Estate Stats

October 18, 2024

by Republic Title Real Estate Articles Resources Stats Video

The real estate market across Collin, Dallas, Denton, Rockwall, and Tarrant counties showed varied trends in September.

Collin County experienced a significant increase in both new listings (up 21.7%) and active listings (up 49%) from the prior year, though the average sales price dropped by 3%, with closed sales seeing a notable rise of 7.8%.

In Dallas County, new listings were up by 11% and active listings by 39%, while the average sales price increased 3.4%, but closed sales fell by 2.1%.

Denton County also saw gains in new listings (up 13.5%) and active listings (up 33.2%), though closed sales dropped sharply by 11.9%, with a modest increase in average sales price of 1.1%.

In Rockwall County, new listings rose by 12.5%, and active listings by 35.5%, while average sales prices increased by 1.4%, but closed sales were down 4.3%.

Tarrant County was the only area to see a slight decline in new listings (down 1.7%), though active listings rose 26.3%, and while average sales prices were up by 2.9%, closed sales decreased by 7%.

The Fall market of this year should be an interesting time. Remember Republic Title is here to help!

For the full report from the Texas A&M Real Estate Research Center and for NTREIS Local Market reports click here.

Texas Housing Insight August 2024 Summary

October 14, 2024

by Republic Title Real Estate Articles Resources Stats

All measurements are calculated using seasonally adjusted data, and percentage changes are calculated month-over-month, unless stated otherwise.

August saw a fall in home sales and a continued rise in building permits. New listings increased almost 14 percent, driven largely by the Houston metro recovering after Hurricane Beryl. The storm did not have the same degree of impact on sales. Home prices fell slightly to $335,494.

Sales Dip, New Listings Bounce Back

After bouncing back in July, statewide seasonally adjusted home sales dropped 6.2 percent month-over-month (MOM), resulting in 24,948 homes sold (Table 1). Dallas had the largest decrease among the Big Four at 10.4 percent (6,858), followed by Houston at 4.4 percent (6,628) and San Antonio at 4 percent (2,622). Austin was the only one among the Big Four to have an increase in August (2.7 percent), resulting in 2,267 homes sold.

The number of new listings increased by over 5,500, marking a 13.8 percent rise from July, in large part due to Hurricane Beryl. New listings plummeted the week of Hurricane Beryl with the following weeks making up for the decline. This increase spilled over into August, when new listings normally are in decline following the peak months of June and July. Houston saw a substantial increase of 44.9 percent (14,098), followed by Austin at 27 percent (3,543) and Dallas at 12.5 percent (11,349). San Antonio had the smallest addition among the Big Four, with a 5.8 percent increase (4,060).

The state’s average days on market (DOM) increased by one day to 61 days. Dallas had the largest increase—from 52 to 55 days, a 7 percent increase. Similarly, Austin increased from 68 to 70 days. Houston and San Antonio both rose by one day and are currently at 52 and 74 days on market, respectively.

Texas’ number of active listings increased from 116,294 to 120,129 (3.3 percent). Active listings across the Big Four rose in August with Dallas, San Antonio, and Houston increasing by 4.3 percent (26,835), 1.5 percent (14,093), and 3.5 percent (28,456), respectively, while Austin rose by 0.1 percent (11,519).

Statewide pending listings have begun increasing with 1,368 additional pending listings in August. The pending listings across the Big Four have been mixed with Houston (7,294) and Austin (2,616) increasing by 18.6 and 15 percent, respectively. Meanwhile, San Antonio (2,235) and Dallas (6,170) declined by 20 percent and 14.7 percent, respectively.

Interest Rates on the Decline

Treasury and mortgage rates both declined in August but at a much faster rate than the month before. The average ten-year U.S. Treasury Bond yield fell 38 basis points to 3.87 percent. The Federal Home Loan Mortgage Corporation’s 30-year fixed-rate fell by 35 basis points to 6.5 percent.

Single-Family Permits Grow at a Slower Pace

Statewide, building permits increased at a lower rate in August, up 1.59 percent MOM after a 29 percent increase in July. Houston grew by 7.3 percent and Dallas by 2.2 percent. Austin and San Antonio, on the other hand, fell by 8.1 and 7.3 percent, respectively.

Single-family construction starts grew after monthly declines since March 2024. Seasonally adjusted statewide single-family starts increased by 8 percent MOM to 13,564 units. Houston and Austin rose by 20 and 17 percent, respectively, while San Antonio increased by comparatively less (2.5 percent). Meanwhile, Dallas decreased by 0.6 percent.

The state’s total value of single-family starts climbed from $20.28 billion in August 2023 to $26.13 billion in August 2024. Houston accounted for 35.7 percent of the state’s total starts value followed by Dallas with 27.1 percent.

Home Price Dip Slightly

Texas’ median home price fell 0.2 percent MOM in August from $336,109 to $335,494 (Table 2). Houston fell by 2.7 percent to $331,510 while Dallas rose by 2.2 percent to $396,654. Austin fell the most among the Big Four, by 2.8 percent to $435,915. San Antonio fell by 1.3 percent to $306,698.

The Texas Repeat Sales Home Price Index (Jan 2005=100), which is a more accurate reflection of home price changes, fell 0.5 percent MOM in August but increased 1.1 percent year over year (YOY). Austin’s annual appreciation remains below the state’s average and fell by 3.9 percent YOY in August.

Source: Texas Housing Insight | Texas Real Estate Research Center (tamu.edu)

BY JOSHUA ROBERSON, RHUTU KALLUR, and Junqing Wu (October 9, 2024)