Houston home prices expected to jump 14% in the next year

by Liz Hughes

As if they haven’t been through enough already…

Homebuyers in the Houston area should brace themselves — again — amid expectations that the residential real estate market could jump 14.1% next year — on top of a previous one-year increase of 10.4%, according to a new study by Porch.

A dwindling supply is being blamed for skyrocketing home prices in the Lone Star State, where the median price clocks in at $$247,026.

Currently, Houston is ranked No. 37 out of 51 large metro real estate markets expected to grow the most in the next year. And Houston is not the only Texas city to feature in these new price predictions. With a median home price of nearly $459,000, Austin, Texas, tops the list at No. 1. Home prices there are anticipated to rise by a staggering 37%.

Also in the large metro markets, Dallas-Fort Worth, TX ranks No. 9 with a projected growth of 21.1%, San Antonio ranks No. 25 with a 16.8% growth project. Killeen ranks at No. 19 among midsized metros with a projected growth of 17.7% and El Paso ranks No. 31 with a projected growth of 15.7% and McAllen ranks No. 59 with a 10.6% projection.

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