Texas Real Estate

I'm happy to report that the Texas Real Estate market continues to do well.

The newspapers report that in North Texas, the average time it takes to sell a preowned house is 79 days.  That's good compared to more than 100 days on the market to sell in most large U.S. cities.

"The job growth and general economic health of the state, and D-FW specifically, is one of the primary reasons why our housing market has stayed up," said Dr. James Gaines of Texas A&M University's Real Estate Center.  "The primary driver is the energy sector, of course, but others like finance and business services, government and retail trade have also done very well." 

Another factor in our favor here in Texas is affordable housing.  Dr. Gaines says "Texas is the most housing-affordable, high-growth state in the nation.  So far, skyrocketing home prices common to fast growing states like California and Florida have not occurred in Texas."  The other items he cites in our favor are the employment opportunities and our lower cost of living.  

The future's looking bright.  Dr. Gaines also says “Our population is growing by leaps and bounds and we’re continuing to create jobs.  More importantly, relative to many major market areas, we still have reasonably priced, affordable housing.”

We can all use a little good news these days!

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