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The Texas Tribune

National

Joshua Fechter

Texas’ housing market shows signs of cooling down after the pandemic drove it to new heights

Texas Pandemic Housing Market Ashley Jackson Austin Texas AM University Texas Tribune Houston San Antonio Dallas

A recently sold new home in east Longview's Mission Creek subdivision on Dec. 17, 2021. — A recently sold home in Longview in December 2021. The state's red-hot housing market is showing signs of cooling. (Credit: Michael Cavazos for The Texas Tribune)

After years of sharp rises in home prices and stiff competition to buy a home amid the COVID-19 pandemic, the Texas housing market is starting to cool off.

Until recently, buyers competing for a limited supply of homes routinely had to pay more than the asking price and make offers on the spot. Now there are more homes for sale in Texas than at any time since fall 2020 — when the state’s pandemic housing crunch kicked off in earnest.

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