Texas Homebuyers Remain Satisfied with the Real Estate Process

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Apr 05, 2024, 10:18 ET

Report Provides Insights Into Buyer and Seller Desires and Opinions

AUSTIN, Texas, April 5, 2024 /PRNewswire/ -- While mortgage rates and home prices have risen over the last several years, the vast majority of Texas homebuyers and sellers show continued confidence in the homebuying and selling process as well as a high level of satisfaction with the real estate agents who assist them. The 2024 Texas Homebuyers and Sellers Report from Texas Realtors also shows homebuyers consider their home purchase to be a good long-term investment.

Texas Homebuyers Remain Satisfied with the Real Estate Process

According to the report, 82% of buyers said their home purchase was a good long-term investment, with 42% considering it even better than stocks.

Highlights for Homebuyers

31% of all buyers were first-time buyers, up 7 points from the previous year.
60% of buyers said finding the right home was the most difficult step in the process.
More than three quarters of buyers made some type of compromise, with price, condition, and size topping the list.

Highlights for Homesellers

The top reason for selling was to move closer to friends and family (23%), followed by job relocation (14%).
62% of sellers made renovations to their home prior to selling.
52% held an open house to help market the home to buyers.

Buyer and Seller Satisfaction

89% of buyers and 92% of sellers used an agent in their home transaction.
89% of buyers and 82% of sellers would definitely or probably use their agent again.
91% of buyers and sellers were very or somewhat satisfied with the process of buying or selling their home.

"As Realtors, we have direct interactions with our clients and understand how much it means for them to buy or sell a home, invest in real estate, do a commercial transaction—whatever our real estate specialty may be," said Jef Conn, Chairman of Texas Realtors. "It's gratifying to see that the overwhelming majority of homebuyers and sellers have positive experiences and value the professionalism and service provided by their Realtors."

About the Texas Homebuyers and Sellers Report

The Texas Homebuyers and Sellers Report is based on survey data from the Profile of Homebuyers and Sellers by the National Association of REALTORS^®. The survey compiles data from people who completed a transaction between July 2022 and June 2023. Texas REALTORS^® distributes insights about the Texas housing market each month, including quarterly market statistics, trends among homebuyers and sellers, luxury home sales, international trends, and more.

About Texas REALTORS^®

With more than 150,000 members, Texas REALTORS^® is a professional membership organization that represents all aspects of real estate in Texas. We are the advocate for REALTORS^®and private property rights in Texas.

CONTACT:
Desmond Davis
[email protected]

SOURCE Texas Realtors