The median price of homes sold in TX rose 5.1% in 2005 & 4.6% in 2007 & estimated to be 3%
in 2007, according to the Real Estate Center at Texas A&M University.
House values are determined by net rents. Stock price-to-earnings ratios can be helpful when
studying home price-to-rent ratios. Monitoring these ratios can yeild a “normal” price-to-rent
ratio for an area, which in turn can suggest whether a price bubble may occur.
The ratios of prices in metro areas to the avery price for the United States again indicate that
the risk of a home price bubble for Texas in current economic conditions is LOW.
As America celebrates the 40th anniversary of the Fair Housing Act, REALTORS continue to be
outspoken advocates, working with home buyers & sellers to ensure they receive equal access
to affordable housing & ownership.
The Fair Housing Act protects the basic right of all Americans to pursue the dream of home-
ownership free from discrimination based on race, color, religion, sex, disability, familial status & national origin, & REALTORS have a strong committment to partner with diverse real estate
partners, education & grant & awards programs.
Pushing for flexible FHA, the National Association of Realtors is working with Congress to make
permanent the new FHA conforming loan limits, mandated by the stimulus package, so that
Americans can access affordable financing in all areas of the country. REALTORS also continue
to push for a stronger, more flexdible FHA program, to give more first-time buyers access to
affordable & safe financing options.
best location for investors are DALLAS & HOUSTON, according to HomeVestors of America,
the company famous for the “We Buy Ugly Houses” billboards. The list is based on number of
homes bought in each market.
The Dallas-Fort Worth-Arlington metro grew by 162,250 residents between July 1, 2006 &
July 1, 2007, the biggest population gain the country. Two other Texas metro areas were in
the top 10. This is from the U. S. Census Bureau.
With last week’s blog, this is one of the areas that the market is correcting itself – folks moving away from pricier areas to less pricey, creating a population change.
With the giddiness of the price increases of the early 2000s, we are seeing a price adjustment.
By the summer of 2006, the U. S. housing inventory hit 4 million units – double its level in 2000.
The recent boom and bust in real estate could ultimately benefit the industry and the economy
at large. 1. In the past few years formerlly blighted urban areas have been renewed,
2. the flight from overpriced markets has yielded a long overdue internal
redistribution of the country’s population,
3. more sophistication of American’s knowledge in home financing,
4. greater availablity of information about all components of the house sale
process,
5. price wars are returning affordability to real estate consumers.
For now the housing and real estate bubble served as an important catalyst for the growth
at a time when one was sorely needed.