#Texas, often mooted as one of the key markets for #property in the United States with areas like Haslet that have reported over 50% growth in sales prices, is now showing the Southern US state's real estate market is possibly cooling.
The August numbers show that homes sold fell by 15.1%, the number of homes on the market rose by 21.1%, and the median number of days a house spent on the market has increased by 18 days to 37. In July, statistics showed that the Texas market had more homes for sale than at any other time since the midst of the pandemic in late 2020.
With the US Federal Reserve raising interest rates in an attempt to slow mass inflation, in turn pushing mortgage rates higher, the trend of Texas being a sellers market has begun to reverse across the state. Demonstrable by the year-to-year, July 2021 to 2022, numbers indicating a 168% increase in listed homes.
#Investors considering this market should consider the above in planning their #investment strategy and exactly how, they want to get into this market, if indeed, they still should.
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