Texas Housing Market to Shift Towards Buyers in 2025

Texas saw a surge in people moving to the state during the pandemic, and experts predict the state will see another increase in 2025 as buyers get the upper hand in the housing market. The Texas housing market is experiencing a mix of trends, with rising home prices and increased sales. The median home price in Texas is $343,800, up 2.3% from last year, yet still lower than the U.S. median of $429,963. This indicates a more stable and positive outlook compared to the national market.

The state's sustained population growth and job creation, particularly in high-paid sectors, are driving strong housing demand. But rising inventory and slower sales could shift the market to a more balanced state in 2025. While that could favor buyers, experts suggest the potential for continued price increases and competitive conditions. Joel Berner, Senior Economist at Realtor.com told Newsweek Texas is still in a seller's market with just over three months of inventory. However, if inventory continues to rise and home sales slow, the market could soon shift to a more balanced or neutral state. 'We foresee more available for-sale inventory and slightly higher listing prices in Texas in 2025,' Berner said. 'Even as high mortgage rates act as a serious headwind to the market, we expect buyers to adjust and carry on with their plans to move.' Daniel Oney, Research Director at Texas Real Estate Research Center at Texas A&M University told Newsweek that Texas is experiencing significant population growth, averaging 1,300 new residents daily due to natural increase and migration. The state has added over one million new jobs since the pandemic, particularly in high-paid sectors like professional services and IT, leading to strong housing demand expected to continue into 2025. As of November 2024, the median home price in Texas is $343,800, according to Redfin. That's up 2.3 percent from the previous year

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