Researchers: 6.6 percent more home sales in 2018, builders wrestle with affordability restraints

 Texas single-family home sales should increase 6.6 percent in 2018, say researchers for the Real Estate Center at Texas A&M University. The experts’ overall 2017 housing recap, however, shows an industry struggling to meet the need for affordable housing.

While demand for Texas housing, particularly existing homes, continued strong in 2017, researchers say pronounced shortages likely will continue unless builders find ways to build homes priced less than $300,000.

“That’s a difficult task,” said Research Economist Dr. Luis Torres, “considering rising land cost and skilled-labor shortages.

Read more at Real Estate Center.