When it comes to real estate, there’s no hotter place than Texas—again! The 2016 Texas Annual Housing Report released by the Texas Association of REALTORS® “shows broad demand for Texas real estate and continued sales growth,” said the Texas Association of Realtors (TAR). TAR Chairman Leslie Rouda Smith credits the state’s “diverse economy, rapid population growth, and high quality of life” for Texas’s continued “real estate growth, housing demand, and development, which attracts homebuyers from across the country and around the globe,” she said.
The numbers are especially impressive in light of an energy slowdown that many were concerned would crimp real estate growth; instead, “demand increased for multiple property types and market segments in 2016.”
Leading the way: Land. Small land sales in Texas saw nearly 19% sales growth in 2016, the strongest segment in the state’s real estate market. SouthStar Communities has witnessed that trend firsthand, with land sales in Texas more popular than ever:
- Vintage Oaks, a masterplanned community in New Braunfels, accelerated property releases in new and existing neighborhoods to meet buyer demand. Vintage Oaks is the fastest-growing community in the Hill Country for the past three years.
- Requests for larger land and view property prompted the release of new homesites backing to King Oaks’ 60-acre Nature Preserve. King Oaks in Bryan-College Station is a favorite choice of Texas landbuyers looking to build a custom home in the Brazos Valley.
In addition, SouthStar’s single-family home communities in San Antonio (Mission del Lago) and in New Braunfels (The Crossings) that largely cater to first-time homebuyers in Texas saw tremendous sales throughout the year, marking another leading real estate trend for 2016. “First-time homebuyers are a growing driver of the Texas housing market,” said the TAR. “According to the Texas Homebuyers and Sellers Report, nearly one in three (30 percent) Texas homebuyers are first-time homebuyers.”
Want to learn more about buying land in the Hill Country or homesites for sale in College Station, buying a home in the Hill Country, or living in San Antonio? Visit SouthStar Communities. You can also click below to learn why SouthStar is the leader in masterplanned community development.