Texas Housing Update

High home prices and mortgage rates are taking a toll on the Texas housing market. In 2024, home sales in the state totaled 330,000—less than 1 percent more than the year before. Looking back even further, there were over 80,000 fewer sales in 2024 than the peak of 414,000 in 2021 and almost 26,000 fewer than the pre-pandemic level of 356,000 in 2019. 

Home Sales Strongest in Dallas  

Dallas-Fort Worth was the top Texas metro for home sales. Sales growth there reached over 91,000, a 2.48 percent year-over-year (YoY) increase. Most North Texas counties had flat sales growth. However, Collin County exceeded 2023 sales by nearly 1,000. 

Other large metros, including Houston, San Antonio, and Austin, experienced flat sales growth—recording less than 1 percent growth YoY. The largest counties for each—Bexar, Harris, and Travis—recorded fewer sales YoY. 

Texas Home Prices Starting to Cool Off 

While home prices increased throughout the state, they did so at a much slower pace than before and after the pandemic. The average home price in Texas was approximately $422,000, a 2.1 percent increase YoY. 

Austin leads the way for the highest-priced homes in Texas, but the average price fell from $574,000 in 2023 to $567,000 in 2024. San Antonio home prices also experienced a dip from $370,000 to $365,000. The fastest-growing markets in terms of price in 2024 were Midland, Odessa, and Victoria. 

Views expressed on The 338 are those of the authors and do not imply endorsement by the Texas Real Estate Research Center, Division of Research, or Texas A&M University.