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The Texas Real Estate Market is More Than Ideal for 2015
There’s no better time to make a move to Texas. People are heading into the state by record numbers and this is effecting Texas real estate in a big way. Monthly, more out-of-state residents are choosing to make Texas their home over any other place in the United States; the state saw a gain of 584,000 people just during 2013. International buyers are close behind and added almost 11 billion dollars to the Texas economy in the same time period. Culture Map Dallas has insight as to why the state is becoming one of the most desirable places in the nation to live.
“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, chairman of the Texas Association of Realtors, “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.”
There’s one sector of the real estate market in Texas that is doing especially well - luxury home sales. According to the article, January 2014’s Luxury Home Report indicated an average 35% growth in sales year-over-year in four major cities: Dallas, Austin, Houston and San Antonio. Austin and Houston saw double the growth in luxury housing as did the market as a whole.
“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,” Hatfield, said. “This has been a glowing year for Texas real estate, and 2015 is on-pace to be just as bright.”
Add in the prediction of an increased home inventory, more buyers entering the real estate market and the expectation that people will continue to migrate to the Lone Star State at a record pace, Texas won’t be slowing down anytime soon.
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