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Texas Housing Trends
TEXAS A WINNER! (But we already knew that!) Based on the first set of data from the 2010 Census–Texas, the nation’s second-largest state after California, was the big winner in the decade just ending. With its low home prices and pro-business, pro-growth policies, Texas felt comparatively little effect from the housing meltdown and has bounced back from the recession faster than other big states. Our unemployment rate has fallen to 8.2%, whereas the nation’s is hovering near 10%.
And the population of the Lone Star State surged nearly 21% to more than 25.1 million over the decade, adding to our expanding economic base and congressional delegation—the latter a significant source of future economic vitality because of the growing delegation’s ability to steer federal spending to the state. Businesses are following the people, and Houston is one of the fastest growing cities in the Nation.
This is good news for both buyers and sellers of real estate. There are still great “buy opportunities”, with low interest rates. But on the “sell side”, there is definitely a growing market for properties!