DALTX Real EstateDALTX Real EstateDALTX Real Estate
  • Home
  • Guest Post
  • Agents
  • Contact Us
  • About
  • Advertise With Us
Reading: 3 Reasons That 2019 Was Texas’ Record Year for Home Sales
Share
Font ResizerAa
DALTX Real EstateDALTX Real Estate
Font ResizerAa
  • Home
  • Guest Post
  • Agents
  • Contact Us
  • About
  • Advertise With Us
  • Home
  • Guest Post
  • Agents
  • Contact Us
  • About
  • Advertise With Us
Follow US
© DALTX. All Rights Reserved.
DALTX Real Estate > Texas Real Estate > 3 Reasons That 2019 Was Texas’ Record Year for Home Sales
Texas Real Estate

3 Reasons That 2019 Was Texas’ Record Year for Home Sales

3 Min Read
SHARE
Austin-Edited

Last year was a record year for the sale of Texas homes for three particular reasons, according to the Texas A&M University Systems Real Estate Center.

At 356,576 homes sold throughout MLSs in 2019, research associate Wesley Miller said there was a combination of reasons for the growth:

  1. Low interest and mortgage rates
  2. Domestic migration
  3. Job growth and demographic changes

“Without predicting an exact number, we are expecting interest and mortgage rates to be relatively stable and stay low,” Miller said. “It depends on a lot of factors and how the 2020 economy is, but we aren’t expecting any widespread changes.”

Demographically, he said as the millennial generation is aging — with the oldest of the generation now entering their 40s — practices are changing.

“People were concerned they would never buy homes,” Miller said. “Now, the main part of that cohort has moved into their 30s, and more and more millennials are buying homes.”

Miller said Central Texas grew by 2.4 percent in the past year, while the Dallas-Fort Worth Metroplex slowed down by 3.1 percent in 2019, after having explosive growth for the past decade.

Led by San Antonio and Austin have led the region, and state, in growth, primarily because of technology careers, Miller said.

“When it comes to population growth and domestic migration, Austin comes to the forefront of people’s minds,” Miller said. “It occurs in all the major MSAs.”

Photo-credit-East-Quarter-Dallas-Edited

In 2019, housing prices in D-FW didn’t increase as much as they had in the past seven or eight years, but it allowed other industries to catch up, which is still good for D-FW.

Though an increasing housing market across the state is a positive trend, he said homebuilders and developers are scrambling to keep up with the word required.

“We’re seeing that activity in terms of building permits, vacant lot development and supply factors are increasing,” Miller said. “Builders and developers are having to try hard to keep up with the demand.”

For more information, read the reports at the Real Estate Center website. The center publishes monthly reports in the Texas Urban Triangle, major MSAs and the border economy. There is also a quarterly report that focuses on commercial real estate.

From Facebook: Are Open Houses Really Worth It?
Why You Should Get an FHA Loan in Texas
MetroTex Alerts Realtors to NTREIS Phishing Scam
Sunny Oak Cliff Cottage-Style Ranch Wows With Upgrades
Dallas May Get Nice Things: FAB Studio
TAGGED:Real Estate Center at Texas A&MReal Estate Center at Texas A&M UniversityTexasTexas real estateTexas real estate news
Share This Article
Facebook Email Copy Link Print
Previous Article Dallas Builders Associate Member Spotlight: Winston Custom Homes
Next Article Channel Carrie Bradshaw in Victory Park Luxury Penthouse
Popular News
Dallas real estate news

LocalDwelling.com Lease of the Week: Stunning Modern Urban Townhome Will Leave You Speechless

The $3 Million Economic Incentive for the New Dallas Costco Comes From Your Water Bill (Sort of)
Get Ready for the 28th Annual Hollywood Heights Home Tour
History’s Latest Rhyme: Advancing East Lancaster is a Plan 120 Years in The Making
​Dallas Market Leader Dave Perry-Miller Real Estate Offers Range of Park Cities Listings
about us

DaltxRealEstate.com is the largest real estate blog and the only one in North Texas.

Links

  • Privacy Policy
  • Terms of Service
  • Contact Us
  • Paid Guest Post Submission

Categories

  • Wednesday WTF
  • East Dallas
  • Monday Morning Millionaire
  • Upon Closer Inspection

Get Involved

  • Advertise With Us
  • Write for Us: Submit Guest Post

Find Us on Socials

© DALTX. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?