Texas Home Buyers More Diverse and Earning Higher Income National Average Comparison

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AUSTIN, Texas , May 3, 2021 / PRNewswire-HISPANIC PR WIRE / – According to the Texas Home Buyers and Sellers Report for 2021, released by Texas REALTORS, Texas home buyers are more diverse and perceive Higher income compared to buyers nationwide. The annual report provides detailed insights on the demographics, motivations and opinions of Texas home buyers and sellers who executed a real estate transaction between July 2019 and June 2020. It also presents information related to income levels, ethnicity , ages, and perceptions of the home buying and selling process of Texas real estate consumers.

“The increase in income level is encouraging, as is the broader base of diversity among home buyers,” said Marvin Jolly , 2021 President of Texas REALTORS. “Even with higher income levels, buyers are currently facing one of the most challenging markets in history as the supply of homes for sale is extremely low in most of Texas. ”

According to the report, the percentage of homebuyers who identified as Hispanic / Latino was 18%, up from 14% the previous year. In turn, 7% identified themselves as black / African American versus the previous 5% and, in the case of Asian / Pacific Islander people, the figure was 6% versus 4%. White / Caucasian home buyers decreased from 78% to 69% between the two reporting periods.

The majority of Texas home buyers (68%) were married couples, followed by single women (15%), single men (9%), and unmarried couples (6%). The median age of home buyers in Texas was 48, four years younger than the previous year. For its part, the median income of this group was $ 112,500 , exceeding the national average by $ 16,000 . Among all Texas home buyers, 31% purchased a property for the first time, the same number as the previous year.

Jolly added, “While median income continues to rise, median home prices have risen dramatically. As the voice of Texas real estate, it is a priority for Texas REALTORS to continue talking with our real estate leaders and working to ensure that home ownership remains feasible, especially for those looking to acquire a property for the first time. ”

Among Texans who sold their homes, the most common motivation for listing their property on the market was to move closer to friends or family, followed by job transfers and wishes for a more spacious home. Sellers lived in their properties for an average of nine years. The median sales price was $ 70,000 higher than what sellers paid for their homes, and the median time properties were on the market was four weeks.

About the Texas Home Buyers and Sellers Report
Data from the 2021 edition of the Texas Home Buyers and Sellers Report is taken from the 2020 Texas Home Buyers and Sellers Profile , published by NAR, which analyzes survey data among Texans who bought or sold a home. between July 2019 and June 2020. Texas REALTORS® distributes information about the Texas housing market throughout the year, including quarterly market statistics, trends among home buyers and sellers, luxury home sales, and international trends among others. To view the full Texas Home Buyers and Sellers Report , visit texasrealestate.com .

About Texas REALTORS®
With more than 140,000 members, Texas REALTORS® is a professional affiliate organization representing all aspects of real estate in Texas . We are the advocates for REALTORS® and private property rights in Texas . Visit texasrealestate.com to learn more.