Texas Comptroller's Economic Outlook for Housing
Updated: Feb 10,2012
Comptroller’s Economic Outlook
- Thus far, Texas has weathered the national real estate crunch without significant damage to property values.
- A total of 4,446 building permits for single-family homes were issued in December 2011. In the 12 months ending in December 2011, 61,834 permits were issued, 2 percent fewer than one year ago.
- There were 3,507 multi-family building permits issued in December 2011. During the 12 months ending in December 2011, 30,180 permits were issued, 59 percent more than one year ago.
- In December 2011, sales of existing single-family homes increased by 12 percent from the previous month, to a total of 16,505. December 2011 home sales were 4 percent higher than in December 2010.
- In Texas, the median price for existing single-family homes decreased by 0.2 percent from December 2010 to December 2011.
- In December 2011, the Texas foreclosure rate was one in every 1,133 mortgages. This was substantially better than Nevada’s one in 177, California’s one in 254, Arizona’s one in 357 and Florida’s one in 360.