4 Predictions for the Texas Housing Market in 2021


Here’s What to Expect in the Texas Real Estate Market in the Coming Year
With 2020 behind us, many homeowners, investors, and aspiring first-time homebuyers are all focused on one thing—forecasts for the Texas real estate market in 2021. Although no one has all of the answers, there are some tell-tale signs of what we can expect in terms of property values, home inventories, and other key areas, experts say. Here’s why and what they are predicting for housing in Texas in the year ahead.

1. Property values will likely rise.
Some experts say that property values in Texas will rise by nearly 6% in 2021. Strong demand, low mortgage rates, and economic recovery will likely spur this increase. That’s good news for homeowners and home sellers, especially those in some of the fastest-growing areas of Texas (and the U.S.!) like Austin and several Houston suburbs.

2. Demand for rentals will increase.
Higher property values and strong demand are expected to create new barriers for some first-time homebuyers in Texas. Additionally, experts expect more pandemic foreclosures in 2021. Those factors will mean more renters in Texas, say industry experts.

3. Inventory will spend less time on the market.
Average days on the market (DOM) for housing inventory in Texas have been falling for years. In October 2020, it hit an all-time low of 48 days, according to the latest reports. Additionally, many areas across the state experienced ground-breaking lows for housing inventory DOM, as the table below shows.
AreaDOM in October 2020 (days)Houston45San Antonio51Austin35Fort Worth36Dallas39 

This trend should continue through 2021, largely propelled by low-interest rates and stable demand. According to experts, inventories for houses priced under $300,000 will likely see the biggest shrinkage to their average DOM this coming year.

4. The Texas housing market should remain strong through 2021.
Experts agree that the Texas real estate market has recovered from the impacts of the pandemic. This bounce-back has occurred in the housing markets across several major metros in the state, and it is expected to continue, particularly in light of the trends above.With such a promising outlook ahead, the coming year may be the ideal time to buy or sell a home in Texas. If it is for you, simplify that process and put money back in your pocket at closing by working with the experienced Realtors® at New Home Gurus.

Buying or Selling a Home in Texas? We Can Help!
New Home Gurus makes it easy to buy and sell homes in Texas. Our Realtors® can guide you through the process, helping you with offers, negotiations, and closing. And, once you close on your new home, we’ll split our commission with you! Homebuyers who work with New Home Gurus can get back an average of $4,500 to $12,000 at closing.

How Much Cash Can You Get after Closing?
Call (281) 668-8124 or Email Us to Find Out Now

We are standing by, ready to answer your questions and explain the details of our commission-sharing program.


Subscribe to our Newsletter

Share this post with your friends