The Texas Realtors reported 3,118,089 homes were sold in Texas over the past decade because of factors such as increasing population, small and large natural disasters, new home technologies and the COVID-19 pandemic.

Texas’ four largest metro areas made up three-quarters of homes sold.

“In the past couple of weeks, [the market’s] not cold; it’s so much…different than it was six months ago,” Heather Kelly, owner of Texas Real Estate Executives, said. “It’s definitely slowed down since the frenzy of early June.”

The change Kelly noticed in the market is in a “frenzy,” comparing it to a supply and demand situation.

“We’ve seen a crazy rate rise in cash buyers, and a crazy rise in people moving from other areas to [ours],” she said.

Although many Texans want a home, there aren’t enough homes for them to buy, which is an obstacle the market has, according to Kelly.

The average home price in Texas increased by $112,200 over the past 10 years. The median price increased from 146,988 to 259,188, a 76% increase.

Homes went from spending 93 days on the market on average to 55.

“We’ve had a dynamic real estate market in Texas over the past decade,” Marvin Jolly, chairman of Texas Realtors, said in a release. “Through it all, Realtors have helped buyers, sellers, and property owners achieve their goals.”