Texas homebuyers are buying more new homes and they’re finding them faster, according to the Texas Association of Realtors. This indicates a steadily growing, competitive housing market in The Lone Star State.
Shad Bogany, chairman of the Texas Association of Realtors, said, “This report affirms the Texas real estate industry as a driving force in our state’s economy. More new homes are being built and homes are selling faster, which bodes well for our thriving Texas housing market and our economy’s future.”
In 2012, 26% of all homes purchased in Texas were new. Additionally, Texas homebuyers only spent eight weeks looking for a home prior to making their purchase. Compared to Texas, only 16% of homes nationwide were new homes and homebuyers spent an extra month searching for the right property.
It seems that the makeup of Texas homebuyers has shifted as well, with 69% of homebuyers being married couples, compared to 65% nationally. This marks the highest share since 2001.
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