by Andres Prospero 
🌟 Texas Real Estate News 🌟
Are you eyeing the Lone Star State for your next home? 🤠 Here’s the latest scoop on Texas’s real estate market:
– Market Conditions: The number of homes for sale decreased by 14.0% in June 2024 compared to 2023, with single-family homes down by 13.6% and condos down by 29.7%. The median home sale price is $354,300, declining at 1.1% YoY, and homes are on the market for 42 days.
– New Developments: San Antonio is buzzing with projects like the redevelopment of the historic Basila Frocks building, expected to be completed in March 2025, and the Continental Hotel renovation, which will include mixed-income housing and commercial space.
– Infrastructure Updates: Houston is seeing a surge in new residential developments, including a 12-story midrise condominium tower in Rice Village and the 1,150-acre Grange community in Katy, with the first phase expected to be completed by 2025.
– Mortgage Rates: The average interest rate is expected to drop to 6.3% by the end of 2024, making it a favorable time for buyers to apply for loans.
– Rental Market: With new developments like The Everstead in Conroe and The Sylvan in The Woodlands, offering modern amenities and a mix of housing types, there’s something for everyone.
Considering Texas for your next move? Whether you’re buying or selling, now’s the time to explore the market. Let’s discuss how you can make the most of today’s conditions!
Sources:
1. https://www.houzeo.com/blog/texas-real-estate-market/
2. https://sanantonioreport.org/san-antonio-development-projects-to-watch-in-2025/
4. https://www.houston.org/news/new-residential-developments-rising-houston
#TexasRealEstate #HoustonHomes #SanAntonioDevelopments #TexasMarketUpdate #HomeBuyersGuide
