As usual, the most reliable real estate market information for Texas comes from the Real Estate Center at Texas A&M. Because their collective data is derived from a myriad of solid sources within the state they always deliver more dependable theories. After all, economist predictions of the future are just theories. Dr. Mark Dotzour tends to be the most accurate with his message. He’s also very entertaining, slightly political, never politically correct and very easy to understand. Not your typical Economics Professor.
Generally and traditionally, REALTORS® have a positive outlook and spin on the real estate market. It’s hard to convince a REALTOR® that the sky is falling, all of America will be homeless and nobody will want to buy or sell any real property. As usual, Texas REALTORS® are very excited about the future of homeownership in our state. Dr. Dotzour says that for the first time he can remember, HE is more positive about the future of real estate in Texas than REALTORS® are.
He cites many indicators and facts. One of those being the low unemployment numbers in the state combined with the high number of consumers moving out of other states and into ours. Dr. Dotzour believes that there will be a number of state and local government employees who lose their jobs in 2011. This is due to necessary budget cuts in Texas. Dotzour believes that the private sector will compensate and employment numbers will stay strong.
As long as loans are available (and they are) and people have jobs, housing will be stable. As more and more people move into Texas with very few leaving, demand grows. This is basic economics, supply and demand. Things look great for Texas. We expect a slight incline to begin in the second quarter of 2011 and build steadily through 2012. 4-8% equity per year is a solid, maintainable real estate market that is good for everyone. We do not want to see it higher because we don’t want to be California, Michigan or any other number of states that are at a negative equity increase now. (Texas is averaging 3.6% right now.)
I hope this helps! Let me know if I can do anything else for you.
leighyork 
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