While the rest of the country tries to find its legs in the post-downturn world of real estate, Texas continues to truck along. The Texas Association of Realtors’ 2014 Texas Home Buyers and Sellers Report shows that Texas outpaces every one of the other 49 in both median household income growth and new-home sales in 2013,” said HOUSINGWIRE.
According to the Texas Association of Realtors, two factors have contributed to the state’s continued market strength: “Households are earning more income and new-home development continues to play an increasingly important role to meet our state’s ever-increasing housing demand.”
HOUSINGWIRE notes that Texas homebuyers increased their median household income nearly 10 percent from 2012 to 2013—a figure that is “nearly double the increase in median household income among U.S. homebuyers…during the same time frame.”
HOUSINGWIRE also pointed out what SouthStar Communities has been reporting on for the past year, which is all the many news outlets and industry experts who have their eye on Texas.
• The Urban Land Institute (ULI), “who ranked Houston, Dallas-Fort Worth, Austin, and San Antonio among the markets to watch for in its ‘Emerging Trends in Real Estate 2014’ report
• The Texas A&M University Real Estate Center, which pointed out several reasons the Texas market is hot, including positive job growth that makes Texas “double the national average; “the price index for Texas real estate in key markets shows that prices are not nearly as much of a challenge in terms of affordability than can be seen elsewhere;” and limited inventory that creates increased demand.
The Wall Street Journal also recently pointed out the land crunch being felt throughout much of the country, which contrasts with the plentiful land of Texas.
Master-planned developers like SouthStar Communities have positioned themselves well to take advantage of continued migration trends in Texas, especially in the desirable areas of Austin-San Antonio, Dallas-Fort Worth, and Bryan-College Station. SouthStar’s lakeside community of Lake Ridge between Dallas and Fort Worth, Vintage Oaks in the Texas Hill Country’s favorite community and in Bryan-College Station’s coveted King Oaks neighborhood have each experienced strong traffic and sales over the last year, and new-home starts are up across the board.
- Vintage Oaks was the "fastest growing community in the Hill Country” for 2013 according to Metrostudy and has continued to set the pace in 2014 with several distinct homesite offerings and the upcoming launch of The Reserve, a whole new way to enjoy living at Vintage Oaks.
- Lake Ridge continues to lead DFW lakefront property growth, with incredible traffic and sales and construction on new homes throughout the community. Lake Ridge welcomed 195 new residents in 2013, triple the number from 2012, and currently has 14 homes under construction, including five at the gated lake-view neighborhood of The Sanctuary. This offering represents some of the most coveted lake real estate in North Texas.
- The New Year has meant a new life for Texas land buyers in Bryan-College Station’s favorite community. King Oaks, offering scenic one-acre-plus properties in a coveted location close to Texas A&M yet in a private, secluded hamlet, has already sold 10 homesites so far in 2014.