Texas Real Estate Trends 2022
The state of Texas is one of the largest and most populated in the country. It has also been a great place to own real estate. Those that live throughout the state, particularly in the metro Austin and Dallas areas, have seen dramatic growth in demand and property values. However, similar to other real estate markets across the country, Texas is seeing changes in the real estate market in 2022. There are various Texas 2022 real estate trends to be aware of if you own a property or are looking to move here.
Prices Increased in Early 2022
One of the factors identified by real estate buyers is that prices continued to increase in 2022. Real estate prices throughout the state had a median sales price of $383,000 in May 2022, which was up 18% in just one year. They were also up more than 50% in the past three years alone. However, there are signs that prices are starting to decline. The median price in Texas fell about 8% from the high with a median price of around $356,000 in September.
Number of Sales Down
The number of sales taking place has also continued to decline. In September 2022, Texas saw just under 27,000 homes being sold. This is down around 17% compared to September 2021. Further, homes that are listed for sale are continuing to sit on the market longer as property owners should expect a home to sit for 31 days on average, which is two weeks longer than it was just one year ago.
Cause of Slowdown in Market
There are various factors that could influence a continued slowdown in the real estate market. Many economic pressures, including increased real estate prices, higher interest rates, and increased inflation. It remains to be seen what the long-term impact will be on real estate here. This could pose challenges for those looking to sell.
Sell to We Buy Killeen Houses
With many changes coming to the real estate market in Texas, now can be a good time to sell your home. As you are looking to sell your home in Killeen, TX, or any other community, you might find that the process is confusing, stressful, expensive, and time-consuming. If you would like to sell a home here, selling to We Buy Houses can be a great option. There are various benefits that come with selling a home to this company.
Quick and Easy Process
One of the benefits of selling your home to We Buy Killeen Houses is that it can be a quick and easy process. If you are looking to sell your house fast, the traditional real estate selling process can seem outdated and very slow. The process of hiring an agent, marketing your home for sale, attracting a buyer, and navigating the closing process is difficult and will take a lot of time. When you sell to this company, it will move much faster.
When you contact the team here, you can schedule an in-home visitation within a matter of days. Based on the inspection, they can make you an all-cash offer that you will be happy with. They are then able to close within just a few weeks. Not only is this fast, but you can avoid many of the closing costs and commissions that come with a normal selling process.
No Need for Repairs
An added benefit of selling to We Buy Killeen Houses is that there is no need to make repairs. Nothing is worse than having your home inspected by a buyer and having the sale fall through or having to make significant repairs. This company will always make you an offer that comes with no repair contingencies. This means you do not have to worry about fixing your property just to list it for sale.
Ultimately, selling your home in Texas is a very big decision and one that can come with a lot of work. When you are looking to sell, selling to We Buy Killeen Houses is a top option to consider. You cancontact us today to learn more about their processes and how selling to them can be a great option for your situation.