2021 TEXAS HOMEBUYERS AND SELLERS REPORT - Texas Real Estate
TEXAS HOMEBUYERS AND SELLERS
REPORT
2021 Edition
TEXAS HOMEBUYERS AND SELLERS REPORT | 2021 EDITION
ABOUT THE TEXAS HOMEBUYERS AND SELLERS REPORT
Data from the 2021 edition of the Texas Homebuyers and Sellers Report is derived from the 2020 Profile of Homebuyers and Sellers Texas Report by the National Association of REALTORS?, which analyzes survey data among Texans who bought or sold a home between July 2019 and June 2020. Texas 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.
ABOUT TEXAS REALTORS?
With more than 140,000 members, Texas REALTORS? is a professional membership organization that represents all aspects of real estate in Texas. We are the advocates for REALTORS? and private property rights in Texas. Visit to learn more.
MEDIA CONTACT Hunter Dodson Pierpont Communications hdodson@ 512.448.4950
TEXAS HOMEBUYERS AND SELLERS REPORT | 2021 EDITION
EXECUTIVE SUMMARY
Texas homebuyers are more diverse, while also earning higher incomes compared to national homebuyers, according to the 2021 Texas Homebuyers and Sellers Report released by Texas REALTORS?. The annual report provides in-depth insights into the demographics, motivations and opinions of Texas homebuyers and sellers who had a real estate transaction between July 2019 and June 2020. The report also outlines information related to Texas real estate consumers' income, ethnicity, age and perceptions of the homebuying and selling process.
According to the report, the percentage of homebuyers who identified as Hispanic/Latino was 18%, up from 14% the previous year; 7% identified as Black/African-American, up from 5%; and 6% identified as Asian/Pacific Islander, up from 4%. White/Caucasian homebuyers fell from 78% to 69% between the two reporting periods.
The majority of Texas homebuyers (68%) were married couples, followed by single females (15%), single males (9%) and unmarried couples (6%). The median age of Texas homebuyers was 48, four years less than the previous year. The median household income for Texas homebuyers was $112,500, $16,000 more than the national median. Of all Texas homebuyers, 31% were first-time homebuyers, unchanged from last year.
For Texans who sold their homes, the most popular reason for putting a home on the market was to move closer to friends or family, followed by job relocations and a desire for a larger home. Sellers spent a median of nine years in their homes. The median sales price was $70,000 more than what sellers paid for their homes, and the median length the home spent on the market was four weeks.
TEXAS HOMEBUYERS AND SELLERS REPORT | 2021 EDITION
HOMEBUYERS IN TEXAS VS. HOMEBUYERS IN U.S.
TEXAS HOMEBUYERS AND SELLERS REPORT | 2021 EDITION
HOMEBUYING PROCESS
TEXAS
53% of Texas homebuyers said
finding the right property was the most difficult part of the homebuying process.
$20,500 Median amount of
student loan debt among Texas homebuyers.
78% of Texas homebuyers would
recommend or work with their REALTOR? again.
27% of Texas homebuyers stated
their primary reason for purchasing a home was the desire to own a home of their own.
U.S.
52% of national homebuyers said
finding the right property was the most difficult part of the homebuying process.
$30,000 Median amount of
student loan debt among homebuyers in the U.S.
76% of national homebuyers would
recommend or work with their REALTOR? again.
29% of national homebuyers stated
their primary reason for purchasing a home was the desire to own a home of their own.
TEXAS HOMEBUYERS AND SELLERS REPORT | 2021 EDITION
FIRST TIME VS REPEAT HOMEBUYERS
First-Time Homebuyers in Texas
14%
10%
13%
58%
Married Couple Single Male Other
5%
Single Female Unmarried Couple
Repeat Homebuyers in Texas
72%
Married Couple Single Male Other
15% 8% 3%
2%
Single Female Unmarried Couple
First-Time Homebuyers Nationally
19%
11%
16%
52%
Married Couple Single Male Other
3
Single Female Unmarried Couple
Repeat Homebuyers Nationally
17%
67%
9%
5% 2%
Married Couple Single Male Other
Single Female Unmarried Couple
TEXAS HOMEBUYERS AND SELLERS REPORT | 2021 EDITION
HOMEBUYER CHARACTERISTICS
Ethnicity & Household Composition of Texas Homebuyers
Black / African-American Asian / Pacific Islander Hispanic / Latino White / Caucasian Other
80% 60% 40% 20%
69%
18%
7% 6%
4%
54%
28% 11% 9%
4%
76%
14%
5% 4%
4%
0%
All Buyers
First-Time Buyers
Repeat Buyers
Ethnicity & Household Composition of Homebuyers Nationally
Black / African-American Asian / Pacific Islander Hispanic / Latino White / Caucasian Other
100% 80% 60% 40% 20%
0%
83%
87%
74%
5% 5% 7%
3%
All Buyers
8% 8% 12%
8%
First-Time Homebuyers
4% 3% 5%
3%
Repeat Homebuyers
TEXAS HOMEBUYERS AND SELLERS REPORT | 2021 EDITION
HOMEBUYER CHARACTERISTICS
Prior Living Arrangement for Texas Homebuyers
Rented the home ultimately
1%
purchased
Lived with parents, relatives or
8%
friends
Rented an apartment or house
Owned previous home
0%
10%
20%
30%
42%
49%
40%
50%
60%
Prior Living Arrangement for Homebuyers Nationally
Rented the home ultimately
1%
purchased
Lived with parents, relatives or friends
Rented an apartment or house
Owned previous home
0%
11%
10%
20%
37%
30%
40%
51%
50%
60%
................
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