Killeen, TX has grown in multitudes of people from all over the world, thanks to Fort Hood. With the addition of the University of Central Texas A&M and homes being built at a rapid rate, Killeen is becoming one of the fastest growing cities in America. As the population grows, new businesses are pouring in.
Killeen-area home sales increased the second quarter of 2015, according to data released by the Texas Association of Realtors in August 2015. Home sales increased by 8%, accounting for close to 1,500 single-family home sales in the Killeen-Temple area. The average cost for a single-family home increased 9.2%, to $146,500, in the second quarter of 2015. “People are buying houses,” said Michael DeHart, executive officer of the Fort Hood Area Association of Realtors.
“Our housing market in Killeen has been fairly strong all along. Even nationwide when you saw these dips, we saw dips, too, but it was nowhere near as drastic as it was everywhere else,” DeHart said.
According to figures provided by DeHart, single family-home sales increased 8% in Killeen year-over-year in June.
There was an 11.6% increase in single-family home sales statewide for year over year in June, DeHart noted.
Median home prices fell 4% in Killeen during the same time frame, according to the June 2015 Killeen housing market report released by the Fort Hood Area Multiple Listing Service.
Buyers looking to settle in the area should know that Killeen’s homes are still a budget buy in comparison to statewide home prices, with the average Killeen home costing $50,000 less than statewide averages, DeHart said.
The newly released second-quarter data shows that statewide, the average home price in Texas increased 8.1%, to $200,000, a new all-time high.
“The impact of lower oil prices continues to be delayed, leading to a surprisingly strong second quarter. In fact, Texas home sales are actually stronger than they were this time last year, when oil prices were nearly $100 a barrel,” said Scott Kesner, chairman of the Texas Association of Realtors. “This is further evidence of the strong and enduring demand for Texas real estate.”
The future of the Killeen housing market looks bright, DeHart said.
“This is a good time for home buying,” he said. “The I-35 corridor — we are the growth corridor. We have the development of the new college, the hospital out at Fort Hood is growing, a lot of service industry in the area is growing and all of that attracts people.”