Texas Leads the Nation in Housing Market Recovery
September 20th, 2012 | by The Update
Real estate agents in Dallas-Fort Worth sold almost 8,000 single-family homes in August, according to the Dallas Morning News, an 18 percent increase over July and the 14th consecutive month purchases have been higher than the year before.
Another landmark: August sales in the region mark the largest number sold in a single month since the start of the recession in 2007. Meanwhile, median sales prices were 8 percent ahead of levels a year ago…
While it’s good news that the Texas real estate market is roaring along, it isn’t entirely unexpected, says Jim Gaines, a research economist at Texas A&M University’s Real Estate Center. The Lone Star State didn’t suffer as severe a recession or housing bust as some other states, which has made its climb back out easier…
But although Texas might have been dealt a better hand when it comes to housing, the recovery there is an important bellwether for the recovery in the rest of the nation. Success in the Lone Star State could be a precursor to more widespread gains in the broader housing market.
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