New Report Reveals Insights on Texas Homebuyers and Sellers<\/p>\n
Texas REALTORS\u00ae has released the\u00a02023 Texas Homebuyers and Sellers Report<\/em><\/a>, providing Texans with helpful insights and analysis of the demographics, motivations and opinions of Texas homebuyers and sellers. The report focuses on real estate transactions between July 2021 and June 2022 and outlines information related to Texas real estate consumers\u2019 income, ethnicity, age, and experience with the home buying and selling process.<\/p>\n According to the report, there were fewer first-time homebuyers in Texas compared to previous years, at 24% of homebuyers, down from 32% last year and 39% a decade ago.<\/p>\n \u201cThe insights we provide every year with the annual\u00a0Texas Homebuyers and Sellers Report<\/em>\u00a0are extremely valuable to Texas REALTORS\u00ae and their clients,\u201d said Marcus Phipps, 2023 Chairman of Texas REALTORS\u00ae. \u201cThe report equips Texas REALTORS\u00ae to best serve their clients\u2019 needs and allows all Texans to make informed real estate decisions.\u201d<\/p>\n The median household income for Texas homebuyers was $110,000, $22,000 which is more than the national median for homebuyers. Thirteen percent of homes purchased during the reporting period in Texas were new homes, slightly more than the national figure of 12%.<\/p>\n Home purchases in Texas were more prevalent in the highest age groups, with 52% of purchases made by individuals aged 55 or older. In contrast, 14% of Texas home purchases were made by individuals aged 25 to 34.<\/p>\n The top reason Texans who sold their homes during the observed period did so was to move closer to family and friends (23%), followed by job relocation (13%) and retirement (10%), consistent with the strong job market in the state.<\/p>\n Eighty-seven percent of homebuyers and sellers used a real estate agent to help buy or sell their home, with 90% of those buyers and 86% of those sellers stating that they would likely use that same agent again or recommend them to others.<\/p>\n \u201cEvery year, home buying Texans tell us that their REALTOR\u00ae helps to make this complicated process easy and enjoyable,\u201d said Phipps. \u201cSellers continue to look to REALTORS\u00ae to help price their homes and market them to potential buyers. In these fluctuating market conditions, we encourage homebuyers and sellers to work closely with a Texas Realtor to help them accomplish their real estate goals.\u201d<\/p>\n<\/div>\n A link to the Texas Realtors website is below for more information:<\/p>\n