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Number of Texas Homes Sold on Rise

September 19, 1993

More existing Texas homes were sold in the past 12 months than during any comparable period since 1980, leading James W. Christian, director of the Real Estate Center at Texas A&M University to state, "The 108,182 sales in 35 major markets statewide confirms that the Texas real estate recovery is firmly established."

The average price of an existing home sold in Texas today is $96,200, up 4.5% from a year ago and more than the previous high of nearly $93,000 in 1986. Higher home prices are due to stronger housing demand combined with a shrinking inventory of existing homes for sale, said Christian.

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