Texas currently has a solid low unemployment rate, as well as constant increases in personal in come. On top of all of that, Texas is known to have overall low interest rates. Obviously, the real estate market in Texas is going to be beneficial and steady for years to come.
While the overall economy in the United States is causing a lot of problems for families across the nation, the real estate in Texas is still quite strong. Experts are predicting that it will continue to be strong in the years ahead. Why? Because Texas is consistent with providing affordable shelter for everyone. The middle class throughout the state can afford nice, newly built homes that would cost a fortune in other states. Not only that, but new homes are being built all the time, and the old ones are being renovated and rebuilt.
Want to know where some of the most undervalued markets are? Why, in Texas of course! Killeen, TX has been known for years to provide homes for less than the average market value.
Texas has a population of over twenty million people, making it the second most populated state after California. But unlike California, the homes in Texas are much more affordable. Homes in Texas are selling more quickly than homes across the nation. This can be due to the oil industry booming in Texas as well as the large military bases, such as Fort Hood. More soldiers are being sent to Fort Hood than ever before, making the housing units off base high demand.
Over the next four years, there will be many new construction jobs in Texas, thanks to the ever increasing oil and chemical industries. Due to these factors, as well as many others, the overall outlook for Texas real estate is a good one in comparison to the rest of the country. Therefore, the negative economy isn’t affecting Texas real estate much, if at all.
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