Houses are being bought up in the United States, but in places like Texas and Texas isles the price is actually falling.
In the Houston area, the average price for a single-family home jumped by nearly $3,000 in 2017, to an all-time high of $1.8 million, according to data compiled by real estate site Trulia.
The price of a single family home has also increased by an average of $7,200 over the last three years.
The median home price in Houston rose by $2,890 over the same time period.
But the price of the median house in Texas has dropped by more than $20,000 over the past three years, Trulia said.
The trend is clear across the country.
“The Texas market is experiencing a historic rise in house prices, driven by a growing supply of new and used homes,” the Trulia report said.
“There are still some areas in Texas where home prices are undervalued, however, as the population grows, the supply of homes to purchase and maintain is expanding.”
Trulia found that the median home in the Texas area went up $2.2 million over the previous three years while the median price went up an additional $3.2.
The San Antonio area saw a price increase of more than 8 percent, while Dallas saw a slight decline of 1 percent.
The Texas home prices have been a hot topic lately, with the Houston market’s recent surge becoming the focus of much debate and media attention.
The debate started in early 2017 when the FBI reported that the number of violent crimes in Texas had surpassed the national average.
The FBI found that Texas had the highest number of homicides, robberies and aggravated assaults per capita in the nation, according a report by the San Antonio Express-News.
Some experts believe the recent spike in home prices is being driven by supply and demand.
In 2017, Houston’s median home value increased by more that $2 million.
Trulia reported that Houston home prices rose by nearly 4 percent during the same period.
According to Trulia, the median Texas home price rose by about $2 billion over the year.
“While prices are rising, demand is growing, and that is why home prices in Texas are on track to keep rising for several more years,” Trulia noted.
“It’s a positive sign that the U-turn is being made.
This is a trend we’ve seen across the nation.”
Homeowners in the Dallas-Fort Worth area are also feeling the squeeze.
The average price of homes in Dallas increased by $3 million over last year, while the price in the Houston metro area increased by nearly 7 percent.
Trubulities report shows that the average Dallas home price went from $1,664 in 2016 to $1.,932 in 2017.
The Houston home price also increased in the last year by $1 million.