Houston Area — Real Estate Market
"A survey by Builder Magazine and Hanley Wood Market Intelligence reveals that Houston has the healthiest and most promising housing market in the nation. Compared with 74 other housing markets, Houston has performed the best over the past four years and is likely to continue to do so this year.
Houston is home to nearly 5.8 million people and is now the largest home building market in the country according to Builder, with 42,697 building permits in 2008. This high number of permits is likely a result of an influx of population, Hurricane Ike rebuilding, and new jobs. Employment rose 2.2 percent in 2008, representing an addition of an incredible 57,000 jobs net.
Also, existing home prices actually rose in Houston last year. The study found that home prices rose 2.8%, to $160,200. This is still a very affordable price level and attractive to homebuyers.
To determine ranks, this study analyzed population trends, job growth, home prices, and building permits. Texas proudly claimed all top five positions in the study:
#1 Houston, TX with 42,697 building permits
#2 Austin, TX with 14,250 building permits
#3 Fort Worth, TX with 10,388 building permits
#4 San Antonio, TX with 10,261 building permits
#5 Dallas, TX with 26,145 building permits"