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Texas Home Sales Remain Steady in the First Quarter of 2024

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Texas Home Sales Remain Steady in the First Quarter of 2024


Texas Realtors Q1-2024 Texas Quarterly Housing report also showed an increase of homes on the market.

AUSTIN, Texas, April 24, 2024 /PRNewswire/ — The number of Texas homes sold in the first quarter of 2024 was nearly identical to the total in the first quarter a year ago, according to the Texas Quarterly Housing Report released today by Texas Realtors. The supply of homes on the market increased, while the statewide median price of $330,950 was 1.6% higher than in 2023.

“Market conditions vary by location, and about forty percent of Texas metro areas actually saw an increase in sales compared to the first quarter last year,” said Jef Conn, chairman of Texas Realtors. “However, the number of homes listed went up nearly across the state. This will give many buyers more options than they had in the past several years.”

Median Prices Mostly on The Rise in Q1-2024

  • Median price went up in 19 metros and down in 6.
  • No metro had a median price decrease of more than 2.3% compared to a year ago.
  • The biggest increase in median prices were in Odessa (11.2%), Midland (9.5%), and Texarkana (8.5%).

More Listings Went on the Market, Driving Months of Inventory Higher
Months of inventory, a statistic that measures how long it would take to sell the homes currently on the market at the current pace of sales, increased from 2.7 months at the end of the first quarter last year to 3.8 months at the end of the first quarter this year. While a few metros had inventory numbers economists consider a balanced market (6 to 6.5 months of inventory), most areas of Texas still recorded inventory levels below that number, indicating that an adequate supply of housing continues to be a concern.

Active listings increased 33.7% at the end of the first quarter compared to the end of the first quarter in 2023.

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Homes spent two fewer days on the market statewide compared to the same period last year. Days on market went up in 16 metros and declined in 9.

“Realtors are working with buyers and hearing from lots of others who are considering buying,” said Conn. “During the pandemic, buyers often were rushed, trying to compete with many other offers. Now, most buyers have a little more time to vet properties and make an offer. While interest rates have remained stubborn, there are good opportunities for buyers. For sellers, prices have held up compared to a year ago, signaling good opportunities to sell. No matter which side of a home sale you’re on, it’s smart to work with a Texas Realtor who can provide information and guidance.”

About the Texas Real Estate Year in Review Report

Data for the Texas Quarterly Housing Report is provided by the Data Relevance Project, a partnership among local Realtor associations and their MLSs, and Texas REALTORS®, with analysis by the Texas Real Estate Research Center. The report provides quarterly real estate sales data from a statewide perspective and for 25 metropolitan statistical areas in Texas. To view the report in its entirety, visit texasrealestate.com.

About Texas REALTORS®

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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: David Gibbs, [email protected]

SOURCE Texas Realtors



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Texas AG sues Dallas for decriminalizing marijuana

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Texas AG sues Dallas for decriminalizing marijuana


Texas Attorney General Ken Paxton announced a lawsuit Thursday targeting the blue city of Dallas over a ballot measure that decriminalizes marijuana.

Paxton alleges that Proposition R, which “prohibits the Dallas Police Department from making arrests or issuing citations for marijuana possession or considering the odor of marijuana as probable cause for search or seizure,” violates state law.

The attorney general argues in the lawsuit that the ballot measure is preempted by Texas law, which criminalizes the possession and distribution of marijuana. Paxton also claims the Texas Constitution prohibits municipalities from adopting an ordinance that conflicts with laws enacted by the state legislature.

MORE AMERICANS SMOKE MARIJUANA DAILY THAN DRINK ALCOHOL, STUDY CLAIMS

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Texas Attorney General Ken Paxton speaks outside the U.S. Supreme Court on November 01, 2021 in Washington, DC. (Drew Angerer/Getty Images)

“Cities cannot pick and choose which State laws they follow,” Paxton said in a statement. “The City of Dallas has no authority to override Texas drug laws or prohibit the police from enforcing them.”

Paxton called the ballot measure “a backdoor attempt to violate the Texas Constitution” and threatened to sue any other city that “tries to constrain police in this fashion.” 

WHAT ARE THE TOP RISKS OF MARIJUANA USE?

Cannabis

A flower bud of marijuana.  (AP Photo/Sakchai Lalit, File)

The lawsuit comes after interim Dallas Police Department Chief Michael Igo directed Dallas police officers not to enforce marijuana laws against those found to be in possession of less than 4 ounces. 

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Ground Game Texas, a progressive nonprofit group that campaigned in favor of the ballot measure, argued it would help “keep people out of jail for marijuana possession,” “reduce racially biased policing” and “save millions in public funding.” 

TEXAS AG PAXTON FILES CRIMINAL REFERRAL AGAINST DOJ FROM ‘SUSPICIOUS DONATIONS’ THROUGH DEMOCRATIC GROUP

marijuana plant

A mature marijuana plant begins to bloom under artificial lights at Loving Kindness Farms in Gardena, Calif., May 20, 2019. Paxton has sued the city of Dallas over a ballot measure that decriminalized possession of small amounts of marijuana.  (AP Photo/Richard Vogel)

“It’s unfortunate but not surprising that Attorney General Ken Paxton has apparently chosen to waste everyone’s time and money by filing yet another baseless lawsuit against marijuana decriminalization,” said Catina Voellinger, executive director for Ground Game Texas.

“Judges in Travis and Hays counties have already dismissed identical lawsuits filed there. The Dallas Freedom Act was overwhelmingly approved by 67% of voters — this is democracy in action.”

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Since January 2024, Paxton has filed lawsuits against five Texas cities that decriminalized marijuana possession, arguing these policies promote crime, drug abuse and violence. 



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Tre Johnson, Texas Longhorns Scrape Past Saint Joseph’s to Win Legends Classic

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Tre Johnson, Texas Longhorns Scrape Past Saint Joseph’s to Win Legends Classic


The Texas Longhorns are heading back to Austin with some early-season tournament hardware in hand.

Tre Johnson battled through another poor shooting night but closed the game out for Texas once again, scoring a game-high 17 points to lead the Longhorns to a 67-58 win over Saint Joseph’s at the Legends Classic championship round in Brooklyn Friday night.

Transfer guard Julian Larry sparked the Longhorns late, scoring all 12 of his points in the second half. Arthur Kaluma added 14 points, four rebounds and four assists while Kadin Shedrick had 10 points and six rebounds.

The Hawks were led by Rasheer Fleming, who stuffed the stat sheet with 16 points, 20 rebounds, three assists, two blocks and three steals. Xzayvier Brown added 15 points on 4 of 7 shooting.

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The Longhorns jumped out to an 11-6 lead after seven early points from Kaluma. St. Joe’s started out cold from the field but controlled the game with hard-nosed defense and the occasional press while dominating the offensive glass. This was highlighted by a possession where the Hawks got four consecutive offensive rebounds but only scored one point as a result.

Johnson stayed aggressive on offense for Texas but was off on his shot and was impacted by the on-ball defense of St. Joe’s.

Mark, Pope and Johnson all hit a triple for Texas in about a two-minute span ahead of halftime to give the Longhorns their biggest lead at 32-26 but the Hawks responded with a free throw from Haskins 3-pointer from Brown before halftime to cut the lead to 32-30.

The defense from the Hawks ramped up even more, as the Longhorns were stuck in the mud on offense and had little to no ball movement. St. Joe’s was hardly much better, but its defense continued to set the tone and eventually swung the momentum.

Larry then hit back-to-back triples as the two teams traded buckets on five straight possessions. Consecutive dunks from Ajogbor and Fleming but the Hawks in front 50-46 with 8:25 to play, but Larry continued to take over. He hit 1,000 career points with a driving layup before finding Kaluma for a corner triple to put Texas back in front at 51-50.

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It didn’t stop there for Larry, who found a cutting Shedrick for a dunk before diving on a loose ball down at the other end to secure possession for Texas, which had built a 55-52 lead with 3:13 left. The Longhorns used the momentum to put together an 8-0 run, which essentially sealed the win in a game where scoring felt hard to come by.

Johnson then closed the game out with six points in the final 4:11 of action, including a pullup jumper at the foul line to put Texas up 63-55 with 1:19 left.

Texas will host Delaware State on Nov. 29.

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Other Texas Longhorns News:

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UT System’s free tuition plan sparks resistance from some Texas lawmakers

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UT System’s free tuition plan sparks resistance from some Texas lawmakers


WASHINGTON — State Rep. Brian Harrison, R-Midlothian, said Friday he plans to meet with top University of Texas System officials after they announced a plan to provide free tuition and waived fees to students whose families make $100,000 or less.

While many elected officials have praised the initiative, Harrison criticized it as an “abuse of power” that makes Texas higher education “more socialist than California.”

Harrison said Friday he’s unswayed by statements from the system and supporters who say the move will be funded from university endowments, not taxpayers.

Harrison compared such statements to someone saying they’re removing water from the shallow side of a pool, not the deep end. It’s all the same water.

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“Money is fungible, so that doesn’t satisfy me in the slightest,” Harrison said.

‘Game changer’: UT System announces free tuition for qualifying Texas families

The new initiative is an expansion of the Promise Plus Program, a needs-based financial aid initiative, and comes amid widespread concerns about the impact of inflation and college costs on families. Gov. Greg Abbott recently prohibited Texas colleges and universities from raising tuition for the next two years.

UT System Chancellor James B. Milliken hailed the expansion as a “game changer” that will make “enormous, real difference” to improve college access for all Texans.

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Not everyone is a fan.

Harrison and like-minded House colleagues have compared it to President Joe Biden’s student loan forgiveness plan that drew intense blowback from conservatives and was largely struck down by the courts. They also said such a consequential change in policy should come from the elected lawmakers serving in the Legislature.

“There must be consequences,” Harrison said on X. “UT’s budget must be cut, and bureaucrats should be fired.”

He led 10 Republican lawmakers, most of them incoming freshmen, in a letter to the regents demanding answers to a litany of questions, including the price tag of the expansion and the source of that money.

“What specific statutory authority did the regents rely on to make a decision this consequential, which will have direct financial consequences for our constituents, many of whom are already struggling to put gas in their tanks and food on their tables?” the lawmakers wrote.

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UT System spokesman Paul Corliss has said the program is not funded through taxes or any kind of public subsidy.

“Rather it is funded through existing UT System endowments,” Corliss said.

What to know about qualifying for free tuition at UT System schools

Rep. Donna Howard, D-Austin, hammered that point in a response to Harrison on social media.

“There are no tax dollars involved,” Howard said on X. “Higher Ed institutions are already helping families afford college. This expands philanthropic endowments and helps meet affordability goals of [Abbott and the Texas Higher Education Coordinating Board].”

Harrison and his colleagues will have to contend with many members of the public embracing a plan that already is encouraging young people to adjust their higher education aspirations.

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Frank Whitefeather, a high school senior, stayed up until 2:30 a.m. Friday working on his college application essay.

He was freshly motivated after the announcement that students whose families make less than $100,000 annually will get free tuition and waived fees at the University of Texas at Austin and other schools in the UT System.

“I wouldn’t be in debt,” said Whitefeather, 17. “I wouldn’t have to have student loans.”

Could free tuition from the UT System impact the competition for Texas college students?

Whitefeather, who attends Dallas ISD’s Sunset High School, thinks the UT news also could change many of his peers’ lives. It’s already changing his plans. Whitefeather hopes to study engineering and be his own boss one day. Texas A&M and UT Austin were his top two choices, but the free tuition announcement has pushed UT ahead.

Harrison said the university system is being contradictory by simultaneously saying it has enough money to offer tuition-free education, but also that a tuition freeze could leave it cash strapped and require more funding from the Legislature.

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“I guarantee you they’re going to be requesting more tax money from the Legislature next session,” he said.



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