Prepare for the wait if purchasing real estate in Texas

Experts blame the housing market shortage in central Texas on the uptick in out-of-state buyers
KTSM-TV | BY TRINA THOMAS • SEP 5, 2021
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Experts blame the housing market shortage in central Texas on the uptick in out-of-state buyers.

The number of people trying to move to central Texas has been on the rise for a while, but the supply is not reaching the demand now, according to KTSM.

KTSM said labor shortages around the nation are affecting supply, but the demand does not give signs of going down. There are severe shortages of key materials needed to make homes. 

Real Homes reports that home purchases can be significantly delayed and even canceled if the buyer cannot find a home appraiser.

"By refusing to train new home appraisers to meet licensing requirements, existing appraisers are able to control the market, creating staggering price increases and massive issues for buyers and their agents," Former Real Estate Broker and CEO at Repair Pricer Christian Adams said, according to Real Homes. 

Real Homes reports that home appraisers are necessary for most of the home sales that involve taking out a mortgage or refinancing. Their job is to produce an accurate valuation of a home so that it minimizes the risk for the lender.

Prospective home buyers should be prepared for the long process if they are wanting to purchase a home in Texas.

KTSM-TV | BY TRINA THOMAS • SEP 5, 2021
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