House inventory grows in US but Texas Real Estate still thriving |
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Texas real estate has, so far, managed to defy all projections and experience relatively little slowing in terms of the rest of the country and the economy. Texas Realtors report a cooling of the market in terms of activity but there are still buyers out there and houses are still going up for sale and are being sold. What has happened is that the global credit crunch which has affected our national economy has made it tougher for folks to borrow money which means that only those who can do and those who can’t stay away. This really means that in this buyers’ market the Texas real estate market is still full of opportunities provided you are willing to do some leg work. This is more than a gut opinion by us who see the market in greater depth and are willing to go out on a limb when it comes to expressing an opinion about it. Two reports that came out this month almost at the same time could not be more different and, each in its own way, backs up our own understanding of the Texas Real Estate market and the way it is still growing. First, LA Times published an article in one of their reporters’ blogs highlighting the fact that the real estate scene in LA and its environs has come to almost a stand still with a growing inventory of housing and practically no building activity going on. LA and California were hit hard by the housing slump and the foreclosures that took place and they are still feeling the effects of the aftermath even now. By comparison a report on Texas Real Estate issued by the Real Estate Center of Texas’ A & M University highlights the fact that month for month the Texas economy actually grew in terms of the number of people in employment compared to the same time in 2007. The Lone Star state’s unemployment figures for March 2007 are 4.4 per cent while the same figure for March 2008 is just 4.3 per cent. While the drop is modest it is so hugely at odds with what is happening with the rest of the country and indeed many other parts of the world’s economies that it highlights just how robust the Texas real estate market really is and how our state has avoided the excesses in peaks and slumps which plagues just about every other part of the country. If you are looking for quality Texas property to buy either as an investment, a main residence or a recreational property then our Texas Property search is the perfect place to start. The Texas Real Estate magazine website carries more than 10,000 high quality, Texas properties each and every month. If you want to find out about bargains that come in the market as they come in the market sign up for our FREE Texas Property Alert. You will be notified about properties that fit the profile you are looking for as they come in, ahead of other buyers and you can remove your name from the list at any one time. For quality research in terms of what properties are moving and which direction Texas property prices are taking in particular parts of Texas consider subscribing to our Texas Real Estate magazine paper editions which give you hard facts about real estate in your area. Texas Real Estate magazine is the predominant source of high quality properties and high quality Texas Real Estate news on the web. Consider checking with us as frequently as you need to, to keep yourself informed. Happy Texas property hunting! |
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