Saturday, May 28, 2011

Texas Home Prices Peak In June and July.

By Troy Corman,
As you can see from the chart above, Texas home prices have peaked at almost the exact same levels each of the last four years, during June and July. As we enter Memorial Day Weekend, look for temperatures and home-buying activity to heat up. In the Dallas - Fort Worth metro, well-maintained and well-priced homes in desirable DFW neighborhoods and school districts will be in high demand. Also, as mortgage rates have reached the lowest levels of the year, smart buyers will take advantage.

If you're a home buyer and worry that you'll be competing with other buyers, just look at the Texas home price appreciation in the chart below. Courtesy of the Texas ATM real estate center, the chart reports the one-year, five-year and twenty-year appreciation levels. As you can see, San Antonio is actually experiencing price appreciation this year. A builder friend says upper-income Mexicans are moving their families and businesses out of Mexico to escape the violence and drug cartels. And they're coming to San Antonio and buying nice homes and often buying brand new homes.

Austin home prices have appreciated over 150% according to the twenty-year chart below. They continue to attract those in the technology industry as well as southern Californians, and retirees who like the Austin terrain.

All the major Texas cities are predicted to explode with growth during the next twenty years. Our affordable cost of living and zero-income tax policies make Texas extremely desirable to those escaping the failed high taxation and anti-business policies on the west and east coasts. When pro-growth measures finally take hold in Washington, look for Texas to lead the way.

Charts courtesy of Texas ATM Real Estate Center

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