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Texas housing market to spike in 2020

Posted at 7:03 AM, Feb 25, 2020
and last updated 2020-02-25 08:03:40-05

TEXAS — A surge in home prices across the Lone Star State are expected for 2020.

Experts at the Real Estate Center of Texas A&M University explained that housing prices across Texas are projected to hike as high as 6 percent in comparison to 2019.

Economists said Texas has had recorded-breaking real estate sale years since 2015.

The downside? Texas' real estate draw was originally due to the low cost of living, but this is now something that's rising steadily.

Even with Texas median home prices out pacing and topping the rest of the United States, the incomes across Texas are starting to be rivaled by the housing increases.

Texas real estate is expected to grow by more than 7 percent in 2020, estimated to hit a massive $104 billion in sales.