Image Source: Recenter
It's a Great Time to Buy Texas Real Estate
There could not be a better time to consider buying a home in Texas. Many factors are in play that make choosing Texas real estate a smart decision. Ben Lane, a reporter for HousingWire, writes about what components make this state the right place for your home purchase.
In 2014, all areas of Texas real estate experienced growth, based on a recent report Lane references from the Texas Association of Realtors. The 2014 Annual Housing Report states that growth in job, population and the economy has been on the rise since 2013, making Texas a national leader in each of these categories.
Out-of-state and international buyers also contributed to this 2014 growth in Texas. According to Lane, the TAR report details, “Texas currently gains more out-of-state residents than any other state and is a leader in home sales from international buyers. An October TAR report showed that that more than 584,000 people moved to Texas from out of state in 2013.” The amount of real estate international buyers purchased in 2014 added $11 billion to the Texas economy.
Lane looks to the TAR chairman and industry expert to build additional confidence in the reports findings and the Texas real estate market leading into 2015.
“It’s a great time to live in Texas. The high demand for Texas real estate is not being fueled by speculation and investment activity – it’s driven by the thousands of people who move to the Lone Star State daily,” said Dan Hatfield.
“People are moving to Texas from across America and around the world to take part in our state’s booming economy, business-friendly environment and quality of life.”
According to Lane, one of the fastest growing housing sectors in Texas this past year was the luxury housing sector. January’s 2014 Texas Luxury Home Sales Report showed a 35% year-over-year increase in luxury home sales in Texas’ four major metro areas: Dallas, Houston, Austin and San Antonio. The report also states that the Austin and Houston markets experienced growth twice as fast as the housing market at large.
Additional good news is that housing development in Texas outpaced the nation by more than half. This trend is expected to continue into 2015.
Lane looks again to Hatfield, “The Texas housing market will likely continue to be highly competitive in 2015, but rising housing development and inventory levels as well as greater access to homebuyer education programs like those promoted through Get Ready Texas will help make the dream of homeownership attainable for all Texans,” he says.
These findings put the Texas housing market toward the top in the United States going into the new year. Start 2015 at one of our master-planned communities.