The Mortgage Bankers Association listed San Antonio and Houston among the top markets nationwide for U.S. home buyers in a report released this week. High employment, population growth and better than average price appreciation were among the key factors. David Kittle, the chairman for the Mortgage Bankers Association, called San Antonio the “benchmark for the rest of the country in lending and building.”
Population growth in Texas is expected to remain above 2 percent next year, compared with a negative projected growth rate for the United States. The biggest population growth area is targeted for the Denton-San Antonio-Houston triangle. Median home prices in San Antonio dipped just 1 % from October 2007 to October 2008 – versus an 11.3 percent drop nationwide. As the video clip confirms, the housing and financial markets in Texas remain strong;
The term “economic refugees” is becoming a common phrase in the Lone Star State. If jobs are available and housing prices remain strong, Texas is a magnet for those in economically depressed and higher-priced markets. The expectation is these “economic refugees” will continue flocking to Texas, which helps explain the projected population growth. It’s a situation that further clarifies the positive outlook in Texas and the state’s overall economic and housing stability.
Our Alamo Premier clients have enjoyed the recent positive turn in interest rates. Despite the negative news nationwide, the perception in Texas is beginning to reflect the positive reality that exists today; the home purchase market is very strong and good opportunities exist throughout Texas.
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