Thirty-two percent of Texas homebuyers bought a home for the first time.
Photo by fstop123/Getty Images
Even with rising prices and slim inventory, Texas is opening the door to homeownership for a large pool of first-time buyers. A new report released by Texas Realtors shows that the percentage of first-time homebuyers in Texas increased from July 2020 to June 2021, at a time when real estate was exploding statewide.
According to the 2022 Texas Homebuyers and Sellers Report, 32 percent of all Texas homebuyers during the one-year period purchased a home for the very first time. That figure was up 1 percent from the previous study, which included data from July 2019 to June 2020.
Among the state's first-time homebuyers, 49 percent were married couples and 13 percent were unmarried couples; 19 percent were single females, 16 percent were single males, and 3 percent identified as other.
The median age for first-time buyers in Texas was just 30 years old, and their median income was $82,500. Compare that to the typical Texas homebuyer from 2020-2021, who was 47 years old, with a median income of $105,000.
When it came to the homebuying process, more than half of all Texas buyers said finding the right property was the most difficult part — not surprising given the red-hot status of Texas real estate.
According to the report, Texas homes spent only two weeks on the market from July 2020 through June 2021, which was half as long as the previous period. That's good news for Texas sellers, whose properties flew off the shelves, and who, on average, sold their homes for $80,000 more than the purchase price.
The Rollin R Ranch in North Texas is on the market for $21.5 million.
A North Texas ranch with ties to the White House is on the market for $21.5 million.
Dallas oil and gas executive Tony Roosevelt, the grandson of President Franklin Roosevelt, is selling his 1,300-acre Rolling R Ranch in Cooke County, which is along the Texas-Oklahoma border. Blake Hortenstine, Cash McWhorter, and Jonathan James, all of Hortenstine Ranch Co., have the listing.
Roosevelt bought the ranch in 1999. He and his wife, JoAnne Roosevelt, had used the property as a weekend retreat, The Wall Street Journal reported.
The ranch, about 75 miles north of Dallas-Fort Worth, features rolling terrain dotted with hardwood forests, native grasslands, and mature pecan groves. The property sits along more than 2.5 miles of Clear Creek.
“For Tony Roosevelt, Rolling R Ranch represented the realization of a lifelong vision. His appreciation for ranching began during his youth at his family’s original Rolling R Ranch in Colorado,” Hortenstine Ranch Co. says in a news release.
“Those experiences shaped his belief that land should be experienced, cared for and shared across generations. Rather than recreating the Colorado property, he spent decades thoughtfully assembling adjoining acreage in Cooke County and shaping a ranch uniquely suited to the North Texas landscape.”
Over time, the Roosevelts’ children and grandchildren would go horseback riding, hiking, camping, or fishing when they visited Rolling R. The property lies near the historic Chisholm and Butterfield Overland National Historic trails.
“What makes Rolling R Ranch truly special isn’t simply its size or location,” Blake Hortenstine says. “It’s the intentional way it was created. Every trail, overlook, and improvement reflects decades of thoughtful stewardship. Opportunities to acquire a property with this level of natural beauty, privacy and history are exceptionally rare.”
According to the listing firm, Tony Roosevelt delayed construction of the ranch’s hilltop lodge until he bought enough nearby property to protect unobstructed views.
Improvements at the ranch included establishing a seven-mile trail system, installing owl boxes and bluebird houses, and setting up wildlife sanctuary areas. Deer, turkey, waterfowl, native birds, wild hogs, coyotes, bobcats, and other wildlife populate the ranch.
While the outdoor amenities and wildlife are impressive, so are the buildings at the ranch.
The 3,716-square-foot main house, built in 2014, offers four bedrooms and four-and-a-half bathrooms. The open-concept great room features a stone fireplace with stone flooring that extends to the main living areas.
The kitchen includes granite countertops, custom cabinetry, a large center island, and a butler’s pantry. A wet bar is next to the main living area. Just off the kitchen is a screened-in porch overlooking the landscaped and irrigated grounds, along with a swimming pool and hot tub.
A 2,800-square-foot barndominium does double duty as the ranch’s headquarters and lodging for visitors.
The barndominium’s upper level includes four bedrooms, two bathrooms, a full kitchen, an open living area, and a screened-in balcony overlooking the surrounding wildlife sanctuary. The lower level features a climate-controlled workshop with a full bathroom. Adjacent to the workshop is a four-stall horse barn, one of four barns on the property.
“Whether envisioned as a legacy family retreat, a premier recreational ranch, or a long-term investment in one of North Texas’ most desirable ranching regions, Rolling R Ranch stands among the finest offerings to come to market in recent years and represents an opportunity that discerning buyers may not see again for decades,” Blake Hortenstine says.
