4 Texas Cities Rank in Hottest Housing Markets
Out of the approximately 20,000 cities in the United States, Ten-X has ranked the top 50 hottest housing markets in fall 2016. Florida leads the way, nabbing the top four spots, but Texas doesn’t look to shabby. Dallas, Austin, Fort Worth and Houston all showed up in the rankings. According to RealtorMag, the rankings factor in pricing, sales, permit activity, economic growth and population growth. Click here to view the complete rankings.
While the economy in Texas, especially Houston, has taken a hit with falling oil prices, manufacturing and tech industries are growing and adding jobs. Companies like Toyota Motor Corp., Google, Apple and ExonMobil have either moved to or added operations in Texas in recent years to lower their cost of doing business. They are adding thousands of jobs, attracting increasing numbers of families and creating a booming real estate market in the major Texas metro areas.
Despite being in a bit of a slump in 2016, the Houston real estate market is poised to recover in 2017. Some analysts postulate that the current home inventory will not be able to keep up with the number of people relocating to the area for jobs, which will result in a more competitive market and higher home prices in the near future. In addition to Houston’s relatively low cost of living, excellent school districts and fairly stable job market, it also offers many amenities that families find attractive. Space Center Houston, the Houston Zoo, Hermann Park, the Museum and Theater Districts, Discovery Green and much more will keep families moving to the area.