Austin, Texas is Number One for a Variety of Reasons

There was big news in the Austin Texas real estate market this week. While other United States housing markets have been experiencing a downward trend, it seems that the Austin market has defied the odds.

In a study performed by the First American Loan Performance, the Austin housing market experienced an increase in home prices by 8.62% throughout the past year.

Other areas of Texas that were included in the study were Arlington-Dallas/Fort Worth, increased by 3.92%; Sugar Land-Houston-Baytown, increased by 4.52%; and San Antonio, which experienced an increase of 7.89%.

The vice president of First American Loan Performance, Damien Weldon commented, “The real estate market continues to exhibit of number of ongoing declines across the country, except for markets such as the Austin residential property market.”

The study, which is known as the Loan Performance HPI, uses over thirty years of repeat sales and over forty-five million observations, obtained from First American CoreLogic Inc., a parent company of Loan Performance.

One of the reasons for the increase in the value of Austin homes for sales is the number of relocaters that have been flocking to the state of Texas. The Texas economy has been experiencing a boom and is predicted to thrive for the next twenty years.

Texas cities, such as Dallas, are rapidly becoming an international hub for business and trade. Many worldwide corporations are creating headquarters in cities like Dallas and Fort Worth.

According to almost every real estate survey conducted the Texas real estate market is still going strong. This means that there is only one conclusion to be made “this is a great time to live in Texas”.

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