Texas New Home Prices Keep Rising: What Buyers Need to Know
Ben Caballero
HOUSTON – (Realty News Report) – The Texas housing market remained strong in October, with average new-home prices rising for the second month in a row, according to HomesUSA.com. Statewide, the average price of a new home increased to $357,547 in October from $355,821 in September.
Dallas–Fort Worth leads the state with the highest average new-home price at $374,871 and continues to be the largest new-home market in Texas and the nation by total sales.
Austin recorded the second-highest average new-home price in Texas at $368,728, a slight increase from September. In October, Houston’s average new-home price was $358,490, while San Antonio’s average was $295,322.
“Texas remains the nation’s hottest market for new homes,” said Ben Caballero, owner of HomesUSA.com. “Even with signs of stabilization, 2018 is on track to be a record year for new home sales in Texas.”
The report noted that the average days on market for new homes rose slightly across the state. New-home sales by city showed modest shifts, with some markets experiencing small increases and others slight declines in activity last month.
Houston reported 1,280 new-home sales in October, up marginally from 1,277 in September, HomesUSA reported.
