Demand for Texas Homes at All-Time High

by | Oct 4, 2016 | Crowdfunding |

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Texas Real Estate values are higher than ever, and homes are in demand. The July 2016 Central Texas Housing Market Reports that 4,320 single-family homes were sold in July, a decrease of 3.1% from 2015 while the average selling price was $260,000, up 6.1% from the previous year.

“The Central Texas housing market is performing very well, but extreme housing shortages across the region continue to be a challenge,” said Jim Gaines, Chief Economist at the Real Estate Center at Texas A&M University. “Homes under $300,000 have less than two months of inventory in the Austin-Round Rock MSA, which means that housing at these price ranges is essentially nonexistent. The growing “donut effect” of homes sales activity as homebuyers move outside Austin city limits in search of more affordable housing is on pace to continue in the near future.”

“Home prices are at their highest level in history in the Austin-Round Rock MSA, and as a result, more existing homeowners have been putting their homes on the market this year,” said Jonathan Smoke, chief economist at realtor.com®. “But by contrast, the Austin-Round Rock MSA remains hot relative to the U.S. In July, listings in Austin moved 20 days faster than the US overall and received 39 percent more views compared to the U.S. average on realtor.com®.”

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Texas has more active real estate projects than any other state in the US. Broken down by city, Houston comes at the top of the list, followed by Austin in second place. Dallas ranks fifth, and San Antonio is not far behind.

One of the largest real estate conferences took place in Dallas last January. The conference had around 1100 participants bringing together different real estate leaders, industrial professionals, and crowdfunding firms. Crowdfunding, a relatively new investing and funding model for Real Estate was the the talk of the conference.

In crowdfunding, a number of non-accredited investors can come together in a joint investment to raise capital for a real estate venture. This significantly lowers the barriers to investing in real estate. Mass Venture, a Texas-based Crowdfunding firm allows investments as low as $500.

From the above discussion, we can safely conclude that the real estate business in Texas is currently booming and far above the rest of the states. This has also presented a whole avenue of opportunities for entrepreneurs and investors, not only in Texas but in other parts of the world as well.

#texasrealestate

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