January 2018 Summary
The Texas housing market started the year with inventory obstacles but shows signs of improvement. The shortage of homes priced under $300,000 restrained sales to only 1 percent growth and heightened affordability challenges. Demand showed little signs of abating as the state and national economies strengthened. However, rising residential loan values, building permits, and housing starts indicate a positive supply-side response. The challenge remains not only for developers to expand the housing stock but to do so at the lower end of the market.