Good times for Texas
Over the past few years, the Texas housing market remained steady and solid while some parts of the country were experiencing pronounced real estate booms. Now, many of those areas of rapid price appreciation are experiencing significant market corrections in the form of home-value depreciation. For the most part, however, the Texas housing market remains consistent, balanced, and strong.

In general, the state’s economy is in good shape, people are moving here, and home prices are appreciating – all positive indicators for the overall health of real estate in Texas. “Texas is the most housing-affordable, high-growth state in the nation,” says Jim Gaines, Ph.D., research economist for the Real Estate Center at Texas A&M University. “So far, skyrocketing home prices common to fast-growing states like California and Florida have not occurred in Texas. The state’s population and economy, as well as its housing and commercial real estate markets, are poised to explode in volume and prices.”

Additionally, recent housing valuation data released by Global Insight and National City show median price and value in all areas of Texas are either fairly valued or undervalued, also a sign of a healthy market. And in early April 2008, Homevestors of America issued a news release showing four Texas cities in the top 10 nationally for real estate investing. Dallas and Houston are first and second, followed closely by Fort Worth at fourth and San Antonio at seventh.

Despite national trends, foreclosures in Texas are down from this time one year ago. While national headlines continue to report doom and gloom, national news doesn’t necessarily apply to a local area. This is especially true for real estate in Texas.

Sources: Real Estate Center at Texas A&M, Homevesters, National City