While many homebuyers throughout Texas may fear that the high number of out-of-state movers coming to the state is the reason behind prices surging upward,...
A new analysis from researchers at Texas A&M suggests that high migration to Texas isn't the biggest factor behind the dramatic rise in the state's rising home prices.While Texas homebuyers worry that out-of-state buyers are driving home prices through the roof, economists say that’s not quite the case.found essentially no correlation
After the recession, the median home price rose every year over the course of the 2010s, with peak growth of 9% in 2013. At the same time, Texas’ number of net new residents each year hovered around 100,000 from 2010 to 2019, according to the center’s analysis of U.S. Census and housing market data. The U.S. Census has not yet released migration numbers for the years since 2019.
The most recent median sales price for local single-family homes sold by real estate agents across North Texas reached ain February, up 21% from a year earlier, according to the latest data from the Texas Real Estate Research Center and North Texas Real Estate Information Systems. Miller said that younger people who want to buy may be preparing for a family and thus going for larger home sizes.
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