Katy Real Estate News - Builder Magazine Names Houston as Top Market
Posted By Timothy Sojka, Realtor ® / Broker, Houston and Katy Real Estate Expert
713-822-2152 - shop for a home on-line at www.search-katy-homes.com
The Healthiest Housing Markets (Boyce Thompson writer)
for 2009 - Good Article for All of Texas
The Healthiest Housing Markets for 2009
Builder, in conjunction with Hanley Wood Market Intelligence, debuts its
metric for determining markets with the best and least potential.
By: Boyce Thompson
With most economists and builders expecting a national market decline
this year, this may not seem like the best time to be selecting the
"healthiest"
markets in the country. Virtually every market was down last year. But a
close look at the numbers reveals that some markets have way
outperformed others during the last four years and are likely to
continue to do so this year.
When the housing market stages its official recovery, the markets listed
on the following pages are likely to lead the parade. It may take a year
or more for the weakest markets--where burgeoning foreclosure sales are
still pounding new home values, making building and selling new homes an
exercise in futility-- to finally stage a turnaround. We'll present that
list next week.
The healthiest markets have many things in common. Most of them are
great places to live, either close to the ocean, mountains, or major
universities.
Most of them didn't have a huge run-up in prices during the boom and
aren't experiencing rampant deflation during the bust.
To compile these lists, we analyzed the top 75 housing markets in the
country. We ranked them based on population trends and job growth,
perennial drivers of housing demand. We also examined what's happened
with home prices; many of the healthiest markets have managed to hold
the line on home values. And finally, we considered the rate building
permits, which may be the single best ongoing indicator of builder
confidence in a market. We combined all these metrics to produce a score
for each market.
1. Houston, Texas
2008 Total Building Permits: 42,697
They like to do things big in Houston. Now the metro area, home to
nearly
5.8 million people, can lay claim to being the largest home building
market in the country, with 42,697 building permits. The market is still
benefiting from an influx of population and jobs and rebuilding in the
wake of Hurricane Ike.
<http://www.builderonline.com/local-markets/hurricane-ike-hits-gulf.aspx
> Employment rose 2.2 percent last year, representing the addition of
an incredible 57,000 jobs. Home building activity in Houston has only
fallen
31 percent since 2005. Also, existing home prices actually rose in
Houston last year, 2.8 percent, to $160,200, still a very affordable
level. Roughly one third of the home building action is in Harris
County, followed by Houston proper and Fort Bend County.
The market is so healthy that I will commit to sell your home in 39 DAYS or I will sell it for free. For more information about Houston and Katy Homes contact Realtor / Broker Timothy Sojka at 713-822-2152. Few Realtors® sold more homes in Houston and Katy in the last 24 months. To find out the value of your home go to http://www.seetimsell.com/. Over 70 homes sold last year and we can sell your too. Shop for a home on-line at www.search-katy-homes.com
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