How About The Texas Real Estate Market?

The Dallas-Fort Worth area is tops in the latest forecast of future home values. The North Texas cities were ranked as the least likely in the country to experience a sustained home price decline reported in the mortgage insurance PMI Group’s newest report.

The economic storm sweeping the country has left Americans with few places to hide! But those looking to hunker down might want to head to Texas, where they can get the best value for their dollar. The PMI report analysis are saying the Dallas-Fort Worth area has less than 1% chance of having lower home prices in the next two years.

Why?
1. “Texas is looking better than anybody else, said PMI economist David Berson. “The economy is doing much better in Texas than other places.
2. “You didn’t get the huge run-up in prices that need to be worked off.”
3. Austin and San Antonio lead the list as to places where your money goes the fartherest. Houston and Dallas are right behind.
4. Texas manufacturing sector has grown in recent years.
5. Texas has a reputation for affordable housing to lure people here.
6. On projected growth, Texas cities were a clear winner, with economists predicting job growth of at least 2% by 2012 in Austin, San Antonio, Dallas and Houston.

In my opinion since we have been so “flat” in the escalation of our values of our housing and because of the reasons above, we should be the first area of the country to start the recovery! We can hope!