Average Texas Home Price Rose 9% In 2013

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The Texas housing market finished 2013 on a high note, according to the latest quarterly report from the Texas Association of Realtors.

Roughly 61,000 single-family homes sold across the state during the last three months of 2013. That’s an increase of nearly 7% over the same period in 2012. The average home price topped $226,000 at year end, up 9% from a year earlier.

The report indicates Houston’s housing inventory stood at 2.9 months at the end of December. That’s slightly higher than the Houston Association of Realtors’ estimate, which put the supply at a record low of 2.6 months. Chaille Ralph holds senior posts in both the state and local organizations.

“You certainly have low inventory in a lot of markets, and some are less than that 2.6 or 2.9 months of inventory, but we are still seeing inventory come onto the market, and there’s still inventory that hasn’t sold right away.”

The statewide housing supply registered 3.6 months at year end, down a full month from the third quarter.

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Andrew Schneider

Business Reporter

Andrew Schneider joined KUHF in January 2011, after more than a decade as a print reporter for The Kiplinger Letter...