Texas markets were among those that boomed the hardest after the pandemic began in March 2020, but the momentum in Texas has stalled. Over the past six months, home prices have fallen in all four of the state’s major metropolitan areas as the extremely tight inventory that defined the years following the pandemic has loosened considerably.
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Two charts that explain why Texas housing markets have stalled

Relatively cheap housing, low taxes, looser COVID-19 restrictions and an influx of major employers turned Texas housing markets into hotspots after the pandemic began in March 2020. While Houston, Dallas and San Antonio didn’t experience the same pace of price appreciation as Austin, they benefited from the same dynamics that pushed Austin to the moon.

 

But the momentum in Texas has stalled. Over the past six months, home prices have fallen in all four of the state’s major metropolitan areas as the extremely tight inventory that defined the years following the pandemic has loosened considerably.

Inventory Year Over Year in Texas Markets
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