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Texas Home Sales Volume Break Records for Fourth Year in a Row in 2018

Local News

Texas home sales volume and home prices broke records for the fourth year in a row in 2018.

Brownsville home sales increasing by 5.5 percent with 2,382 single-family home sales, almost half of homes sold in Brownsville and in the Harlingen area are from $100,000 to just under $200,000.

Craig Grove, Grove Realty Team says, “Real estate in Brownsville, it’s been a little bit soft for the past few years. Last year was a decent year, this year it started a little slow, but right now it’s picking up big time. Every agent I know is out there showing houses, is listing properties. The market is very hot right at this moment and usually it doesn’t heat up until after Charro Days and tax season. The fact that it’s really busy right now is a very good sign of things to come.”

Meanwhile in Hidalgo County, almost 60 percent of homes are being sold from $100,000 to $199,999.  More than 50 percent of homes in Willacy County being sold for no more than $99,999.

Homeowners spending an average of 20.8 percent of their income on housing costs. The U.S. Department of Housing and Urban Development considers housing costs 30 percent or more of monthly income unaffordable.

Copyright 2020 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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