As the Texas housing market remains hot, data over the last decade reveals what has led up to the housing shortage for potential buyers. 

The report details how the time homes spent on the market has decreased, suggesting that continued high demand and the limited supply are requiring buyers to make quicker decisions, told by RisMedia. 

"We've had a dynamic real estate market in Texas over the past decade," Marvin Jolly, chairman of Texas Realtors said, told by the Tyler Paper. "Some of the factors that have affected real estate transactions and property ownership include significant population growth, natural disasters big and small, new home technologies and, of course, the pandemic. Through it all, Realtors have helped buyers, sellers, and property owners achieve their goals."

Median home prices in Texas increased $112,200 over the past decade amid steadily increasing numbers of homes sold each year, according to the report, told by RisMedia.

A total of 3,118,089 homes were sold in the state during the decade. With the median price increasing from $146,988 at the end of 2011 to $259,188 at the end of 2020.

"The Texas housing market thrived during the last decade," Ph.D. Research Economist with the Texas Real Estate Research Center at Texas A&M University Luis Torres said, per the Tyler Paper. "It expanded at a record pace, achieving consistent home sales growth each year and strong home price growth during the decade."