Texas Housing Market

Texas Housing Market Forecast For 2023 Through 2024

Gustan Cho Associates are mortgage brokers licensed in 48 states

This guide will cover the Texas housing market forecast for 2023 going into 2024. The Texas housing market is booming despite mortgage rates surging past 7% in a volatile economy. If you’re considering moving to Texas, you’re not alone. The Lone Star State is one of the fastest-growing states in the country, and its cities are some of the most sought-after and hottest places to buy a home right now. Many homebuyers are close to being priced out of the Texas housing market due to skyrocketing home prices, says John Strange of Gustan Cho Associates:

Due to rising home prices throughout Texas and nationwide, both HUD and FHFA have increased both FHA and Conforming Loan Limits for seven years in a row. With the highest mortgage rates in ten years, the demand for housing in all counties of Texas has not slowed. There are more buyers than the inventory of homes in Texas.

The homes in Houston and its environs were reasonably priced; middle-income families can afford a great newly built home for their income. Today in Houston, with the number of families moving from the west and east coast to enjoy the friendly state of Texas, the price of the home is appreciating dramatically. First-time home buyers in the medium income range find it almost impossible to buy quality brand-new homes. And as time passes, the inventory will become less and less. The following paragraphs will cover the booming Texas housing market for 2023 into 2024 and the five Texas cities with the hottest real estate markets.

Cash Home Buyers And Texas Housing Market

Cash Buyers: The East /West Coast buyers often sell their homes and move to Texas with a hand full of cash to spend on our mansions. These homes here would have cost three times the price up north or in California. But they pay cash for them, causing our market to always run low in inventory to meet the demand of our median-income first-time home buyers.

Investors And The Texas Housing Market

Which means investors and the Texas housing market

Investors’ delight: The 100s to 200 thousand range of homes is always the investors’ delight. Houston being a land of milk and honey for investors, the battle to get to the finish line and win the bid on these homes is just unstoppable. This is because the rental market is strong for them. They are receiving good returns on these investments. In August, the Housing Market in Houston saw a 4.5% increase in leases of single-family homes and 10% in condominium leases.

Home Shortage And Housing Demand

A tale of two evils. Low inventory, and the lack of great builders willing to build at these price point, has left Houston first-time median-income buyers with little or nothing to buy. Hence, an agent working with these buyers who fail to see the reality of their situation. But prefer to lowball the seller, hoping to steal the home with financing, “calls the agent incapable of helping me get that house” when the agent did all within their powers. The seller here is the player in this game and thus dictates the tone. Do you want a home?  Stop lowballing the seller.

Buying Versus Renting in Texas

The average home price for single-family homes in the Houston housing market in August was $282,000, a 3% increase from last year, and the median price of single-family homes went up to $215,000, a 5% climb. These families looking to pay about $1500- $1650 with an FHA 3.5% down are mostly not likely to find a home and are sent back to renting till they can afford more.

The cost of living in the state of Texas is reasonable. That is the reason why it’s attractive for most families. However, we need more quality new home builders. Building in the mid $100 to $200 thousand price point is where homes are in major demand. Real Estate Agents can meet this demand of these ever-growing buyers. Sales in September of 2019 were $150,000 – $249,999: which increased 15.6 percent: and $250,000 – $499,999: which increased 16.0 percent.

Our housing market is experiencing huge growth and is not likely to stop anytime soon. I take pleasure in representing these price-point home buyers. There is nothing wrong with buying what you can afford.  I rather have clients buying what is comfortable for them than buying what is way above their heads and ending up late on their mortgage (foreclosure)—looking for an agent who can represent you regardless of your price point?

Top 5 Texas Cities with the Hottest Real Estate Market

Everything’s bigger in Texas, including the real estate market! Some cities should be on your radar if you want to invest in property or buy a new home. We have looked into and researched to compile a list of the top 5 Texas cities with the hottest real estate market. From booming economies to vibrant cultures, these cities offer something for everyone. So grab a pair of cowboy boots and explore
what makes these places such hot spots for real estate investors and homebuyers?

Introduction to the Texas Real Estate Market

If you’re considering moving to Texas, you’re not alone. The Lone Star State is one of the fastest-growing states in the country, and its real estate market is red-hot. Whether you’re looking for a bustling metropolis or a laid-back small town, a Texas city is perfect. And with so much growth happening all over the vast state, now is an excellent time to buy a home in Texas. To help you specifically narrow your search, we’ve compiled a list of the top Texas cities with the hottest real estate markets. Read on to learn more about these booming towns and why they should be on your list.


A vibrant city with a thriving tech industry, Austin is a popular destination for young professionals and entrepreneurs. With its growing population, Austin’s housing market is highly competitive. The median price in March of 2023 decreased slightly to $529,495. However, new listings in Austin increased by 9.9%.

Dallas/Fort Worth

If you’re looking for an urban environment with plenty of job opportunities, look no further than Dallas/Fort Worth. Home to some of the most massive corporations in the country, this metropolitan area offers residents access to world-class amenities and culture. The housing market in Dallas, Fort Worth, TX, has been experiencing some exciting trends in recent months. In April 2023, the median listing home price was $380,000, showing a downward movement of -9.5% compared to the previous year. This indicates a potential opportunity for buyers in the market.


With its mild climate and easy access to the Gulf Coast beaches, Houston has been constantly attracting new residents from all over the globe for years. The city’s strong economy has helped fuel an impressive real estate market, the median home value. As of April 30, 2023, the average home value in Houston is $302,588. This figure represents a 2.4% increase in home values over the past year. This upward trajectory suggests a healthy and appreciating real estate market, providing homeowners with potential equity growth.

San Antonio

One of America’s oldest cities, San Antonio offers residents a unique blend of Texas culture and modern amenities. With its affordable housing prices, mild climate, and rich history, there’s no wonder why San Antonio’s real estate market is thriving. The median price in the San Antonio metro was. According to the MLS Report from SABOR, the San Antonio area has seen a slight decrease of 1% in average home prices compared to the previous year. The average home price is now reported at $366,843. On the other hand, median prices have remained unchanged from the same period last year. This possibly indicates a steady appreciation of home prices in the market. Buyers and sellers can expect the value of homes to continue to rise, encouraging long-term investments in real estate. No matter what kind of exciting lifestyle you’re looking for, there’s a Texas city that has everything you
need. With its strong economy and booming real estate market now is the perfect time to move to the Lone Star State. Let’s explore these cities in greater detail!

Overview of the Top 5 Texas Cities with the Hottest Real Estate Market

Now let’s first look at the three largest cities. Houston, Texas, is, at the moment, the largest city in the entire state and the fourth-largest city in the United States. The real estate market in Houston is scorching right now, with average home prices rising steadily over the past few years and no sign of slowing down. Thanks to its strong economy and job market, the city is attracting new residents from all over the country.

1. Houston
2. Dallas
3. San Antonio
4. Austin
5. Fort Worth

Dallas/Fort Worth, Texas, is another large area with a booming real estate market. Home prices in Dallas and Fort Worth have been rising steadily for several years, and there are no significant signs of slowing down anytime soon. The city attracts new residents nationwide thanks to its strong economy and job market.

Dallas and Fort Worth are becoming increasingly popular destinations for retirees and empty nesters looking for a more attractive, affordable cost of living than any other bustling major cities like New York or Los Angeles. San Antonio, Texas, is the third-largest city in the state and another one of the fastest-growing cities in the country.

The real estate market in San Antonio has been on fire for several years, with average home prices rising significantly during that time. The city is attracting new residents from across the country, thanks to its strong, durable economy and hot job market, as well as its affordable and cost-effective way of living compared to other major large cities like New York or Los Angeles. San Antonio also has much to offer retirees and empty nesters looking for a new place to call home.

Austin, Texas Housing Market

As the Texas state capital and one of the most populous cities in Texas, Austin is no stranger to rapid growth. The city’s strong job market and high quality of life continue to attract new residents, driving up demand for housing. According to Realtor.com, Austin is currently the number one city in the nation for home buyers, with a median home price of $529,495. If you’re looking for a hot real estate market in Texas, look no further than Austin. This rapidly growing city attracts new residents from all over the country and globally, and it’s easy to see why with its lively music scene, vibrant nightlife, and endless outdoor activities. Alaina Phillips, a dually licensed realtor and loan officer at GCA Mortgage Groups,  shares her insights of the Austin, Texas  Housing Market:

Austin has something for everyone. And as the capital of Texas, it’s also home to many large businesses and employers. As a result of all this growth, the Austin real estate market is super hot right now. Home prices in the city area have been rising steadily and aggressively for the past few years, and there are no signs of it slowing down.

Now is the time to investigate buying a home in Austin. You’ll be happy you did when you’re continuously enjoying all that this great opulent city has to offer. No matter where you decide to purchase, thoroughly research the Austin real estate market and find a knowledgeable real estate agent to help you. With a strong growing local economy and plenty of growth opportunities, investing in Austin will surely be a smart move.

Dallas-Fort Worth Texas Housing Market

The Dallas-Fort Worth metro area is another Texas hot spot for housing. With a population of over 7 million people, the DFW metro area is one of the largest in the country. And it’s only getting bigger; according to Realtor.com, Dallas-Fort Worth is becoming the fastest-growing metro area in the US over the next decade. The current median home price in Dallas-Fort Worth is $380,000.

Fort Worth is one of the most viable and attractive fastest-growing cities in the United States, and its real estate market is red-hot right now. The average home sells in just 43 days. The Dallas Fort Worth area is one of the most populous cities in the United States and is known for its vibrant “big” culture and booming economy.

The real estate market in Dallas, Fort Worth, is extremely competitive, with properties selling quickly and at high prices. If you’re considering buying or relocating to Dallas, Fort Worth, now is the time to do it! Here are some of the reasons why: The population is growing rapidly. Dallas, Fort Worth, attracts new residents from all over the country, resulting in increased demand for housing. The economy is also strong.

Dallas-Fort Worth Growing Economy 

With a very low unemployment rate and many job opportunities, Dallas, Fort Worth, is a great place to live and work. This strong economy has helped to drive up prices for homes in the area. There are many desirable neighborhoods. From Uptown to Oak Cliff, there’s a neighborhood for everyone in Dallas, Fort Worth. And with new construction happening all over the city, you will surely find the perfect home for you and your family. Homes are selling fast. Properties in Dallas, Fort Worth, are being snapped up quickly, so if you find one you like, don’t hesitate to make an offer.

What Homebuyers Should Know About Houston Texas Housing Market

Houston is another major Texas city that’s experiencing strong growth. The city’s growing economy has diversified in recent years, becoming less reliant on oil and gas than in the past. Houston is one of the top Texas cities with a hot real estate market. The city’s economy is diversified and strong, making it a desirable place to live. Ronda Butts lived many years in Houston and shared the following:

Houston has everything from luxury high-rises to traditional single-family homes. You will find various styles, from modern to Mediterranean and everything in between. With its booming economy, more jobs are available, making it easier for people to buy homes in Houston.

The population has been constantly growing, and there is a strong demand for housing. Prices are rising, but there are still good deals to be found. Houston is a wonderful place to invest in real estate right now. The city’s strong economy and diverse housing options make it a great buyer choice.

Cost of Living in Houston Texas

The cost of living in Houston is lower than the national average, but you will still find plenty of upscale neighborhoods. There are also many middle-class neighborhoods, which means buying an affordable house in Houston is possible. The market also offers older homes with character and charm that can be renovated to modern standards.

San Antonio Texas Housing Market Forecast 

San Antonio is also a strong city on the rise. With a population of over 1.5 million, it’s the third-largest city in Texas and the seventh-largest in the United States. The economy is also booming, thanks in part to the presence of major employers like USAA, Valero Energy, and H-E-B. And with a low cost of living and a high quality of life, it’s no wonder that people are flocking to San Antonio. Alaina Phillips, a dually licensed realtor and loan officer, explains a few things about the San Antonio, Texas, housing market.

The real estate market is hot right now, with median home prices rising and inventory tightening. If you’re considering buying a home in San Antonio, now is great.

According to the MLS Report from SABOR, the San Antonio area has seen a slight decrease of 1% in average home prices compared to the previous year. The average home price is now reported at $366,843. On the other hand, median prices have remained unchanged from the same period last year. From recent past data, the median home price in San Antonio was $215,000 in 2017, up from $200,000 in 2016.

Texas Housing Market Prices Expected to Rise as Demand Increases.

Some say it’s still a seller’s market but a time to buy with rising prices. With tight inventory and rising prices, it’s still a great time for buyers in San Antonio. It’s a diverse city. San Antonio is known for its vibrant culture, with residents from all walks of life and backgrounds. The city has something for everyone – from top-notch restaurants to outdoor activities –making it an attractive option for anyone looking to buy a home in the area.

Where to Start Your Search for a Home in Texas Booming Cities

If you’re looking for a hot real estate market to invest in, you can’t go wrong with any of the cities on this list. These Texas markets are booming from Austin to Houston and offer many growth opportunities. When  you interview a potential realtor,  make sure the realtor is well versed and knowledgeable in the area, advises Ethel Matthews,  a dually licensed real estate agent, and loan officer at Gustan Cho Associates:

When searching for a home in these cities, it’s important to consider working with a knowledgeable and experienced real estate agent and Lender. The real estate agent can help you find the right neighborhood and tell you what you can qualify for.

They will help guide you to a home that fits your needs and budget and walk you through the home-buying process. In addition to working with a real estate agent, be sure to do some of your research on each city. Familiarize yourself and explore the different neighborhoods and what they have to offer. This will help you focus and narrow your search to find the perfect place to call home.

No Signs of Texas Housing Market Correction Despite High Rates

Texas is a great state for purchasing and real estate investing. With its diverse cities and strong job market, it’s no surprise that the Lone Star state is experiencing such a hot real estate market. Our list of the top 5 Texas cities with the hottest real estate markets shows just how much potential there is in this region.

If you should decide to buy in Texas, before you begin looking for a home and during the process, we have vast experience working with buyers to get them ready to purchase their dream home. We can take you through your home loan’s buying and financing process. We also can connect you to title companies/attorneys and real estate agents in your area that can help as needed.

Call or text Ronda Butts at 407-460-7999 or email at ronda@gustancho.com for more information and further assistance. Ronda is an experienced referral agent, a dually licensed real estate agent, and a mortgage originator. She has successfully guided many homeowners through obtaining a home on both the lending and real estate side. She does not represent buyers or sellers but offers free consultation in 48 states at Gustan Cho Associates by connecting homeowners, buyers, and sellers to the needed sources.

Will The Texas Housing Market Continue To Boom

Ronda Butts is the top-producing veteran dually licensed realtor and loan officer at Gustan Cho Associates. The Team at Gustan Cho Associates Mortgage Group has a national five-star reputation for being able to close mortgage loans other lenders cannot due to its no overlay business model on government and conventional loans.

Whether you’re looking to invest or relocate, these five cities will surely offer something for everyone. So don’t wait any longer – start your search today and discover why Texans love living here! The team at Gustan Cho Associates are commercial and residential mortgage lenders licensed in 48 states including Texas. We have over 210 wholesale lending partners and the lowest rates. Over 80% of our borrowers at Gustan Cho Associates could not qualify at other mortgage companies due to their lender overlays.

Ronda Butts has a network of realtors throughout the United States. All of Ronda Butts’s clients, whether real estate clients or mortgage clients, become her lifelong friend. Ronda Butts of Gustan Cho Associates firmly believes that knowledge is king. Ronda Butts is always studying new laws and regulations and keeping updated with real estate prices, foreclosures, and market trends in Houston and the United States. The team at Gustan Cho Associates is available seven days a week, evenings, weekends, and holidays.

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