Home prices across much of the nation ended the fourth quarter of the year up, including in some of the biggest Texas housing markets. According to the National Association of Realtors, home prices nationally saw a nearly 15-percent gain year-over-year at the end of 2020.
For Texas, the biggest jump came in Austin, which saw median home prices jump up more than 17-percent in the fourth quarter of 2020. Prices were also up in Houston and San Antonio. Both markets saw a more than 11-percent increase from the previous year.
In Dallas-Fort Worth, the gains were similar. The area experienced a jump of more than 10-percent year-over-year for the final few months of 2020.
Experts credit some of the gains across the nation to record low mortgage rates. They also attach some of it a drop in housing inventory. The highest percentage of home price gains in the country were in parts of Connecticut, Massachusetts, New Jersey, and Naples.