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» VISIT US ONLINE @ DSNEWS.COM 89 percent from the year prior, to $223,990. e average sale spent just shy of two months on the market last year. According to the report, Texas overall had about three months of inven- tory in rotation by the end of Q 4. In Q 4 itself, that was a 0.1 percent dip. A stable inventory should be about six months. Active listings increased 5.5 percent from 2016 to 2017. e strongest growth in median prices occurred in the Dallas-Fort Worth metroplex, where a third of houses for sale last year closed between $200,000 and $300,000. About two- thirds of Texas houses were occupied by the owner at the end of the year. Lybbert attributed the strong growth to the sizable influx of residents and job growth across the state last year. "With more than half a million people moving to the Lone Star State each year, we anticipate the Texas housing market will remain a hotbed for activity," she said. Jim Gaines, Chief Economist with the Real Estate Center at Texas A&M University, said the year ahead should stay strong. "Across the state, we are projecting sales activity to be even more robust in 2018," said Gaines. "One of the big drivers will be from first-time homebuyers finding opportunity in the market with more builders focusing on the entry-level price point and lenders relaxing the requirements for first-time homebuyers. Additionally, the likelihood of more volatile interest rates in 2018 will influence homebuyers to buy now rather than later." While Lybbert said she was happy with the strength of Texas' 2017 market, she also echoed what many housing insiders say about continuously rising housing prices nationally— namely, that affordability needs to be guarded. "e Texas housing market remains in such high demand that we continue to see low levels of housing inventory and strong increases in home prices," said Lybbert. "While that con- tinues to be good news for property owners, Texas Realtors will also continue to advocate for affordable options for all Texans." DS News is the only publication in the country solely dedicated to providing default servicing professionals with news and content focused on their industry. SUBSCRIBE TO THE LEADER IN DEFAULT SERVICING NEWS SUBSCRIBE NOW! Call 214.525.6700 or connect with us online at DSNews.com. is the percentage of middle- class homes on the market in Austin, Texas, as of April 2018 Source: Realtor.com article "Sky-High Prices Got You Down? Here Are the Top Middle-Class Housing Meccas," published April 2018 STAT INSIGHT 70%

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