2015 Texas Home BUYERS & SELLERS REPORT – March

Texas Homebuyers and Sellers Report
2015 Edition
Release date: March 2, 2015
About the Texas Homebuyers and Sellers Report
The Texas Homebuyers and Sellers Report is based on the 2014 Profile of
Homebuyers and Sellers – Texas Report by the National Association of
REALTORS®, which surveyed Texans who bought or sold a home between July
2013 and June 2014. The Texas Association of REALTORS® distributes insights
about the Texas housing market each month, including quarterly market statistics,
trends among homebuyers and sellers, luxury home sales, international trends
and more. To view the Texas Homebuyers and Sellers Report in its entirety, visit
About the Texas Association of REALTORS®
With more than 90,000 members, the Texas Association of REALTORS® is a
professional membership organization that represents all aspects of real estate in
Texas. We advocate on behalf of Texas REALTORS® and private-property
owners to keep homeownership affordable, protect private-property rights, and
promote public policies that benefit homeowners. Visit TexasRealEstate.com to
learn more.
Executive Summary
The 2015 Texas Homebuyers and Sellers Report shows that Texas continues to be a national leader in median
household income growth and new home sales.
From July 2013 to June 2014, the median household income of Texas homebuyers increased 5.9 percent year-over-year
to $97,500. This is more than four times the increase in median household income among homebuyers nationally, which
rose 1.4 percent to $84,500 during the same time frame.
Additionally, 28 percent of Texas homes purchased between July 2013 and June 2014 were new homes, a one percent
decrease from the previous time period yet still nearly double the share of new homes among U.S. home sales during the
same time frame. Nationally, the share of new home sales remained constant at 16 percent of U.S. home purchases.
Increased restrictions in lending standards and rising home prices in certain local markets continue to stifle the growth of
first-time homebuyers in Texas. The percentage of first-time homebuyers in Texas decreased four percent to 29 percent
of all Texas homebuyers between July 2013 and June 2014. Nationally, the percentage of first-time homebuyers
decreased five percent to 33 percent of all U.S. homebuyers during the same time frame.
As a result, Texas homebuyers are older and more likely to be married couples. From July 2013 to June 2014, the typical
Texas homebuyer was 45 years old, an increase of two years from the previous time frame. The percentage of married
homebuyers increased one percent year-over-year to casino online 72 percent, compared to a one percent decrease to 65 percent
Other key statistics from the report include the following:
• Median household income among first-time homebuyers increased 5.8 percent year-over-year to $72,000 for firsttime
homebuyers in Texas and 2.3 percent to $68,300 for first-time homebuyers nationally.
• Median household income among repeat buyers decreased during the same time frame, dropping 8.9 percent to
$97,500 in Texas and dipping one percent nationally to $95,000 year-over-year.
Texans are buying newer, larger homes than homebuyers nationwide. The typical three-bedroom, two-bathroom
home in Texas was 2,100 square feet and built in 2002. Nationally, the typical three-bedroom, two-bathroom home
was 1,870 square feet and built in 1993.
• Sixteen percent of homebuyers in Texas purchased a multi-generational home due to children over the age of 18
or aging parents moving into the house. Nationally this was 13 percent.
• The tenure of owning a home increased one year in both Texas and nationally from July 2013 to June 2014, to nine
years in Texas and 10 years nationally.
• For Sale by Owner (FSBO) homes in Texas sold for 30 percent less than homes sold using a Texas Realtor. The
average Texas FSBO home sold for $160,000, compared to $228,000 for the average Realtor-assisted home sale.