July 2023: Local County Housing Reports
Contrary to investors’ fears, the “housing bubble” did not burst. Instead, a harmonious decline in both supply and demand has struck a balance, resulting in a boost to the housing median price. Throughout the first half of 2023, Texas’ median price has consistently shown a 0.3-0.4 percent growth every month. Due to current owners’ reluctance to sell their existing property, the demand for new construction has significantly increased. This preference shift led to a swift climb in the market share of new construction, which surpassed 20 percent in June.
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