Texas Home Sales Reach All-Time High

The Texas housing market continues to sizzle, as the Texas Association of Realtors reported that 80,105 single-family homes were sold in Q3 2013—the most recorded for a single quarter. The sales volume was also 19% higher than the third quarter last year.

It is not surprising then that the state’s housing inventory fell to a historically low level of just four months (meaning it would take approximately four months to sell all homes currently listed). “To have only four months of inventory in a market as large as Texas is remarkable,” said Jim Gaines, an economist at Texas A&M University, underscoring the hot housing market.

Read more at Austin Business Journal