The number of Texas homes sold in the first quarter of 2024 remained consistent with the previous year, as reported in the Texas Quarterly Housing Report by Texas REALTORS®. According to Jef Conn, chairman of Texas REALTORS®, "market conditions vary by location, and about forty percent of Texas metro areas actually saw an increase in sales compared to the first quarter last year."

The report also noted that the supply of homes on the market increased, leading to more options for buyers. Median prices in the state experienced a 1.6% increase, with the statewide median price reaching $330,950.

The report indicated that 19 metro areas saw an increase in median-home prices, with the most significant rises observed in Odessa (11.2%), Midland (9.5%), and Texarkana (8.5%). However, only six metros experienced a decrease in median prices, none of which exceeded 2.3% compared to the previous year.

Furthermore, the increase in listings drove inventory higher, reaching 3.8 months at the end of the first quarter of 2024. Despite this rise, most areas in Texas still reported inventory levels below the range considered balanced by economists.

Jef Conn noted, "Realtors are working with buyers and hearing from lots of others who are considering buying." He emphasized that buyers now have more time to assess properties and make informed decisions, unlike during the pandemic when urgency was prevalent. Additionally, active listings increased by 33.7% compared to the same period last year, while homes spent two fewer days on the market statewide.

According to the report, the Texas housing market in the first quarter of 2024 shows stability and promising opportunities for both buyers and sellers.