Texans bought and sold fewer homes last year than the year before, but prices held their own, the Texas Association of Realtors reported.
A total of 202,916 houses changed hands in 2010, a 5% decline from 2009, the association said in its quarterly report. But the median price paid for those properties rose 1%, to $147,600.
While the Lone Star State hasn't been immune to the economic downturn, TAR Chair Dwight Hale found it "encouraging that Texas real estate held its value so well."
In the fourth quarter, 43,605 houses were sold in the state. That's down 18.9% from the fourth quarter of 2009. But that three-month period was "the most heavily government-stimulated quarter of that year," Jim Gaines, an economist with the Real Estate Center at Texas A&M University, pointed out. "So, it's not surprising to see a substantial difference in sales volumes."
Hale said his state's realty market is "in a stronger position than almost anywhere else in the country. Our homes are some of the most affordable in the country, and we're seeing job growth substantially greater than national averages, which will continue to fuel the recovery in Texas.