Texans are purchasing new construction homes at twice the national rate, according to a new report from Texas Realtors, signaling strong demand across growing metro and suburban regions statewide.
The study, which covers home purchases between July 2023 and June 2024, found that 30% of Texas homebuyers chose new construction, compared to the much lower national average.
Local agents say the trend is clearly visible in McLennan County, where new home construction has jumped nearly 20% in just the last three months, as reported by the county’s Multiple Listing Service.
“Believe it or not, we’re still in need of homes, so builders are definitely building,” said local realtor Mercedes Lane, who notes that the pace of new developments reflects persistent housing demand.
Industry professionals point to incentives as a major driver. Cameron Gomez with Agents of Texas says many prospective buyers are turning to builders for financial advantages they can’t typically get with resale listings.
“Home buyers are going towards these new construction homes because these builders just can offer so much more than what a typical home seller can,” Gomez said.
Lane added that buyers are being enticed with perks like reduced interest rates, closing cost assistance, included appliances and warranties.
“Being the first one to be inside of that home is huge, especially for first-time home buyers, getting something that's fresh, something that's more of them, as opposed to, starting and recreating something that was already there before," Lane said.
Still, not everyone is opting for a brand-new build. Some buyers continue to seek established neighborhoods and existing resale homes for their character, location and proven reliability.
Gomez says developers are responding in force to new demand across the region.
"You're seeing where these acreages have just been vacant for years and years, developers are coming in because they know that the traffic is coming to McLennan County," he said.
The Texas Realtors report also identified a fast-growing trend in multigenerational living. Nearly 24% of Texas buyers said they plan to share their homes with adult children, parents, siblings or grandparents—marking a new state and national record.
"They buy something bigger together somewhere else. We're seeing a lot of those generations wanting to come together and a lot of like those mother-in-law suites, ADU properties, being highly desired more than what we did maybe like 5-6 years ago," Gomez said.
But the report also acknowledged challenges: first-time home purchases have declined both in Texas and nationwide, and the median age of buyers continues to climb to record highs.
With demand for new construction showing no signs of slowing, especially in fast-growing counties like McLennan, experts say builders may continue to outpace traditional sellers for the foreseeable future.
Originally reported by Bella Popadiuk in 25 ABC Central Texas.
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