Home sales in Texas rise quarter-to-quarter

The Lone Star State's profile is ever-rising as a destination for people looking to move.

For three straight quarters, Texas has experienced a surge in the volume of new home sales, reported the Texas Association of Realtors. April to June brought a 14 percent increase in new home sales, up to 66,079. Home prices stayed flat at $149,200 while home inventory increased to 7.4 months. Increasing home prices could be evidence of the state's burgeoning job market and attractive economic growth, as well as residual impact from the federal homebuyer tax credit.

Gains were "spurred by particularly heavy volume in April and May," said economist Jim Gaines. "However, the federal tax credits for homebuyers expired on April 30 and sales volume decreased between May and June. It's possible the tax credit deadline inspired buyers to move up purchasing decisions, so we may have seen our usual 'summer peak' in sales volume a little early this year."

Consumers who are considering a move may want to keep an eye on Texas' economic growth in the coming months. Additionally, they should research crime rates and job opportunities in the area before deciding if they should move there.


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