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ased on Redfin's November 2024 data, Texas saw a 2.3% year-over-year increase in housing prices, with a median price of $343,800. The number of homes sold rose by 7.1%, and the median days on market decreased to 58. Despite nationwide concerns about rate announcements, many experts believe 2025 is the ideal time to buy in Texas.
Here are five reasons why:
With more sellers expected to enter the market this year, buyers may finally see a wider selection of properties. Many sellers have been hesitant to list their homes due to lower rates secured during the pandemic, but real estate experts anticipate an increase in inventory across the state.
Lower interest rates and a decrease in mortgage payments will make it easier for those who couldn't qualify for a mortgage to enter the market. The National Association of Realtors (NAR) forecasts that mortgage rates will stabilize around 6% in 2025, boosting housing activity and attracting more buyers.
The NAR predicts 4.5 million existing home sales in 2025, with a median sales price of $410,700 nationwide. San Antonio-New Braunfels, Texas, is highlighted as one of the top 10 housing hotspots for 2025, indicating that consumers are flocking to various parts of Texas in search of affordable housing and a better lifestyle.
Real estate agent Ryan Rogers notes that with the spring season approaching, he expects an increase in inventory. He believes that buyers should be proactive about purchasing a home before competition increases prices.
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