TEXAS

HOMEBUYERS
& SELLERS
REPORT
2018 Edition
TEXAS HOMEBUYERS & SELLERS REPORT | 2018 EDITION

ABOUT THE TEXAS HOMEBUYERS & SELLERS REPORT

Data from the 2018 edition of the Texas Homebuyers and Sellers Report is derived
from the 2017 Texas Profile of Homebuyers and Sellers by the National Association
of REALTORS®, which analyzes survey data from Texans who bought or sold a home
between July 2016 and June 2017. The Texas Association of REALTORS® distributes
insights about the Texas housing market throughout the year, including quarterly
market statistics, trends among homebuyers and sellers, luxury home sales,
international trends and more. To view the Texas Homebuyers and Sellers Report in
its entirety, visit texasrealestate.com.

ABOUT THE TEXAS ASSOCIATION OF REALTORS®

With more than 114,000 members, the Texas Association of REALTORS® is a
professional membership organization that represents all aspects of real estate in
Texas. We advocate on behalf of Texas REALTORS® and private-property owners to
keep homeownership affordable, protect private-property rights, and promote
public policies that benefit homeowners. Visit texaseealestate.com to learn more.

MEDIA
CONTACT
Morgan Moritz
Pierpont Communications
mmoritz@piercom.com
512.448.4950
TEXAS HOMEBUYERS & SELLERS REPORT | 2018 EDITION

EXECUTIVE SUMMARY
The 2018 edition of the Texas Homebuyers and Sellers Report revealed a greater ethnic diversity among
buyers and sellers. The report also showed growing affordability challenges despite higher median household
income.

Among all Texas homebuyers, 14 percent identified as Hispanic, 8 percent identified as African-American (an
increase of 3 percentage points from the 2017 report) and 7 percent identified as Asian (an increase of 3
percentage points).

Median household income for Texas homebuyers increased from $94,200 to $101,400. Nationally, the median
income for homebuyers was $88,800.

The median home price paid among Texas homebuyers was $259,500.

The median age of first-time buyers increased one year to 33 years old, while the median age of Texas home
sellers increased for the fourth straight year to 47 years old.

The percentage of all Texas homebuyers who are single decreased from the 2017 report, with single female
homebuyers falling 3 percentage points to 16 percent, and single male buyers dropping 1 percentage point
to 8 percent of all Texas homebuyers. The proportion of married Texas homebuyers increased 2 percentage
points to 68 percent.

The following infographics dive deeper into the characteristics, motivations, challenges, and preferences
among Texas homebuyers and sellers.
TEXAS HOMEBUYERS & SELLERS REPORT | 2018 EDITION

HOMEBUYERS IN TEXAS VS. HOMEBUYERS IN U.S.

47 Years Old $101,400 45 Years Old $88,800

Median age of homebuyer Median household income Median age of homebuyer Median household income

32% 11% Buyers over 50

34% 13% Buyers over 50
years old who purchased years old who purchased
First-time senior-related housing First-time senior-related housing
homebuyers
Texas homebuyers
U.S.
19% 15% Purchased a
Homebuyer or home for a multi- 21% 13% Purchased a
generational family home for a multi-
spouse Homebuyer or spouse
due to aging parents generational family due
is active duty military is active duty military
or children over 18 to aging parents or
or a veteran or a veteran
living at home children over 18 living at
home

10 Years 8 Weeks 15 Years

Expected length
of tenure in
Median length of time Expected length of 10 Weeks
buyer spent searching tenure in home Median length of time
home for a home buyer spent searching for
34% a home
Purchased
a new home 10 Homes 10 Homes
Median number of
homes viewed during
15% Median number of homes
Purchased
search process viewed during search
a new home
process
TEXAS HOMEBUYERS & SELLERS REPORT | 2018 EDITION

HOMEBUYER CHARACTERISTICS
Ethnicity & Household Composition of
Texas Homebuyers
Black / African-American Asian / Pacific Islander Hispanic / Latino White / Caucasian Other

73% 77%
80% 71%
59%
52%
60%

40% 11% 12% 26% 30%

14% 8% 16% 7% 9%
20% 8% 7% 3%
3% 7% 2% 3% 4% 4% 4% 4%

0%
All Buyers Married Couple Single Female Single Male Unmarried
Couple

Ethnicity & Household Composition of

Homebuyers Nationally
Black / African-American Asian / Pacific Islander Hispanic / Latino White / Caucasian Other

100% 83% 84% 83% 84% 81%

80%
60%
40% 7%
8% 7% 12%
7% 6% 6% 5% 5%
20% 5% 5% 3% 4% 3% 2% 3% 2% 3% 4% 4%
0%
All Buyers Married Couple Single Female Single Male Unmarried
Couple
TEXAS HOMEBUYERS & SELLERS REPORT | 2018 EDITION

HOMEBUYER CHARACTERISTICS

Prior Living Arrangement for Prior Living Arrangement for

Texas Homebuyers Homebuyers Nationally

Lived with
Owned parents,
Rented an previous
relatives or
apartment residence friends
or house 47%
and paid
Prior Living 40% Prior Living rent
Arrangement Arrangement 6%
Owned
previous Lived with Lived with
residence parents, parent,
50% relatives or relatives or
friends and friends
paid rent Rented an and did
Lived with 5% apartment not pay
parents,
or house rent
relatives or
40% 6%
friends and
did not
pay rent
5%
TEXAS HOMEBUYERS & SELLERS REPORT | 2018 EDITION

FIRST-TIME VS. REPEAT HOMEBUYERS

Household composition
Single
Female Single
14% Female Single
Single
18% Male
Male
8% 7%
Married
Couple First-Time Unmarried Married Unmarried
63% Couple Couple First-Time Couple
Homebuyers 16%
14%
57% Homebuyers
in Texas
Nationally
Other
Other 2%
1%

Single
Single
Female
Female
17%
17%
Single Single
Married Married
Male Male
Couple Repeat Couple Repeat
7% 7%
71% Homebuyers 69% Homebuyers
in Texas Unmarried Nationally Unmarried
Couple Couple
3% 4%

Other Other
2% 2%
TEXAS HOMEBUYERS & SELLERS REPORT | 2018 EDITION

AGE OF HOMEBUYERS IN TEXAS

55-64 45-54 55-64

45-54 19% 16% 18%
15%

65-74
14% 65-74
Age of Age of 13%
Homebuyers in Homebuyers
Texas Nationally

75+
35-44 75+
35-44 5%
21% 4%
20%

18-24 18-24
1% 2%
25-34 25-34
25% 26%
TEXAS HOMEBUYERS & SELLERS REPORT | 2018 EDITION

MOTIVATIONS FOR BUYING A HOME

Motivations for Buying a New Motivations for Buying an Existing

Home Home
Avoid renovations or problems
35% with plumbing or electricity Better overall value 36%

Ability to choose and

34% customize design features Better price 28%

Amenities of
15% New Home More Charm and Character 21%
Construction

For Texas homebuyers, the desire to own a home was

the most-cited reason for purchasing a home (26
percent), followed by a job relocation or move (11
percent).
TEXAS HOMEBUYERS & SELLERS REPORT | 2018 EDITION

SAVING FOR THE DOWNPAYMENT

18-24 18-24 Months

Months 6%
12-18 5%
Months 12-18 Months
8% 8%

6-12 Months
15% 6-12 Months
2+ Years 15% 2+ Years
Time to Save for 26% 28%
Time to Save for
Down-payment Down-payment
in Texas in U.S.

0-6 Months 0-6 Months

45% 43%
TEXAS HOMEBUYERS & SELLERS REPORT | 2018 EDITION

MOST DIFFICULT PART OF THE PROCESS AND

MEDIAN STUDENT LOAN DEBT

TEXAS UNITED STATES

57% Of Texas homebuyers 54% Of homebuyers in the U.S.

said finding the right property said finding the right property
was the most difficult part of was the most difficult part of the
the homebuying process. homebuying process.

$20,000 Median amount of $25,000 Median amount of student

student loan debt among loan debt among homebuyers in the
Texas homebuyers. U.S.
TEXAS HOMEBUYERS & SELLERS REPORT | 2018 EDITION

HOME SELLERS IN TEXAS VS. HOME SELLERS IN U.S.

55 Years Old $111,400 55 Years Old $103,300

Median age of home seller Median household income Median age of home seller Median household income

28% 2 Weeks 34% U.S. 3 Weeks

First-time
Texas Median length of time a First-time Median length of time a
home sellers seller’s home spent on home sellers seller’s home spent on
the market the market

9 Years $53,500 10 Years $47,500

Median tenure in Median sell price over Median tenure in Median sell price over
home purchase home purchase
TEXAS HOMEBUYERS & SELLERS REPORT | 2018 EDITION

MOTIVATIONS FOR SELLING A HOME

17% Job Relocation

Top 5 Reasons
for
16% Home is Too Small

Selling 6% Change in Family Situation

Previous 6%

Home in Texas 17%

Want to Move Closer to
Friends or Family

Neighborhood has
9% become less
desirable

11% Job Relocation

Top 5 Reasons
for
16% Home is Too Small

Selling 9% Change in Family Situation

Previous
Home 14% Want to Move Closer to
Friends or Family

Nationally Neighborhood has

10% become less
desirable