As early as September 2013, analysts predicted a strong year ahead for real estate in Texas. Indeed, reputable College Station realtors are in for a productive 2014. In an article on the Real Estate Center website, chief economist Dr. Mark Dotzour cites the following economic indicators as the factors behind the continued success of the Texas real estate market:
“Texas continually outperforms the national average for job growth,” he said. “Often we’re double the national average. We’ve added over 459,000 jobs since January 2012. That job growth is likely to continue through 2014.”
Also, while mortgage rates are increasing, they are still at historically low levels.
“In the late ‘70s, we thought 8 percent mortgages were cheap,” Dotzour said. “Five percent was unheard of. Now the media is saying higher mortgage rates will make houses unaffordable and derail the housing recovery. It won’t. Look at the numbers for housing affordability indices in Texas and the nation. Houses have never been more affordable, if you have a job.”
Analysts like Dr. Dotzour are confident that demand may even exceed the supply of housing in desirable communities like College Station. Luckily, buyers can turn to a reputable realtor from College Station—such as the Traditions Realty Team for listings of attractive properties at highly competitive prices. Such services no doubt make it easier to find a lovely dwelling right in the heart of the Brazos Valley.
Meanwhile, interested real estate investors would do well to take advantage of the favorable economic conditions. Property buyers can go to the trusted realtors with the Traditions Realty Team for a list of viable commercial properties at prime locations.
(Source: Hotter Texas Housing Market Predicted for 2014, Real Estate Center: Texas A&M University., 24. Sept, 2013)