Statistics bring to our attention trends and moves within our personal focus and direction. Though we are all unique individuals, state and national currents of home buying and home selling activity relay the propensity of our overall habits.
Women are rocking it in Texas. Twice as many women (14%) purchased homes in Texas as men between July 2014 and June 2015, compared to 7% of men. The national comparison is 15 % of women home buyers compared to 9% of men home buyers for 2015. Before the Fair Housing Act of 1968, women had a difficult time obtaining a credit card to buy a dress let alone qualify for a mortgage to buy a home. The Equal Credit Opportunity Act of 1974 further assisted women with obtaining credit.
Married Texas home buyers decreased 2% to 70% from the previous year. Six percent of unmarried couples bought homes in Texas between July 2014 and June 2015.
Homes purchased with room for parents or adult children (over 18 years of age) are 15% in Texas compared to 18% nationally.
The median size home sold during this time period is a 3 bedroom, 2 bathroom, 2060 square foot house. The national average size home is 1,900 square feet during the same time period. New home construction, 30%, accounted for Texas home sales. Texans like new and shiny. The national average is 16% which has recently remained constant.
Nationally, folks remain an average of 9 years in their homes. Texans average 8 years in their homes which decreased by one year between July 2014 and June 2015. The average age of a Texas home buyer is 45 years of age with first time home buyers median age of 31 years old.
Eight weeks was the average tenure for seeking the perfect property, with views of an average of 10 homes in Texas. 68% used the assistance of the internet and a Texas Realtor®. The primary purpose when choosing a Texas Realtor® in 2015 was to understand the buying process, assistance with pointing out flaws and features and 57% chose a Realtor® for counseling in selecting the best home for them.
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