As real estate markets across the country continue to thrive, more than ever, agents are playing a critical role in the home buying and selling process as housing inventory remains challenged.
Where are the best places for agents to work? Houston is one of them.
Houston wasn’t the only Texas city to make the list. The Lone Star State has five of them on the list, including No. 1 ranked Midland.
Using 2019 data from the U.S. Bureau of Labor Statistics’ Occupational Employment Statistics, Sundae released its list of the top 20 cities for real estate agents to work based on median wage and employment.
Following a record-breaking year, Houston ranked No. 13 on the list with a median annual wage that is 40.1% greater than the national average ($68,560), a 90th-percentile wage 35.1% greater than the national average ($151,050), a median hourly wage of $32.96 and an employment rate of 4,970 (1.6 per 1,000 jobs)
The Houston market had a record-breaking year in 2020 with $35.3 billion in property sales, while days on market fell to 46 days from 59 days, according to the report.
Houston’s housing boom is due to extremely low mortgage rates and low home inventory, trends that are expected to last through 2021.
Midland’s 2020 housing market saw an increased number of sales and higher-than-average home prices, according to the report, which added that housing inventory in the market will remain tight.
Dallas ranked No. 11, and was one of the fastest-growing regions in the country with population increasing almost 2%, according to the report. Dallas area home prices are projected to increase by almost 16% this year.
The West Texas region of the state came in at No. 15, making the list thanks to the oil and gas boom in the region’s Permian Basin. The report found that over the past year, West Texas home prices grew with the average sale price per square foot gaining ground.
College Station-Bryan ranked No. 17. Its housing market had some losses at the start of the pandemic but bounced back in the summer as Texas A&M students and employees returned to the area, according to the report. Housing inventory in the area remains low, although the average number of days homes are staying on the market has slightly increased since 2019.