How Are Texas Homebuyers Different Than Homebuyers Nationally?
How are Texan homebuyers different than their national counterparts? For one, they make more money, the latest Texas Homebuyers and Sellers Report from Texas Realtors revealed.
The annual report takes a look at demographics and opinions of Texas homebuyers and sellers who had a real estate transaction between July 2020 and June 2021.
The median household income for Texas homebuyers was $5,500 more than the national median, the report revealed, with Texans earning a median income of $107,500.
More than a third of the homes purchased during the reporting period were new homes, the organization said, compared to 15% nationally. And people are heading to small towns more frequently, with 16% of homebuyers opting for small-town life compared to 10% a decade ago.
Homebuyers in Texas are also more diverse, the report found, with 13% of homebuyers identifying as Asian/Pacific Islander, 7% as Hispanic/Latino, and 6% as Black/African-American. Homebuyers identifying as White made up 77% of the state’s buyers, compared to 82% nationally.
About 32% of homebuyers were purchasing a home for the first time – up only 1% from last year. Most first-time homebuyers were married couples (49%). Not quite half of all first-time buyers were between 25 and 34 years old. The median age of Texas homebuyers was 47.
