According to nationalmortggenews a report by the Dallas Federal Reserve Bank says home prices in Texas have recovered to seven percent above the pre-recession highpoint in 2007. One of just ten states to have reached that milestone, Texas is second only to North Dakota in the amount that today’s prices have exceeded the previous high. (As MHProNews has reported numerous times, the oil boom demand for worker housing and supportive services residences in western North Dakota has money flowing nearly like water.) CoreLogic says four of the top six markets for new homes are in Texas—Houston, Dallas, San Antonio and Austin. The Federal Reserve Bank says “in-migration” is drawing people to the state seeking work. Existing home sales have risen 33 percent since the beginning of the housing recovery just over two years ago.
(Image credit: city of Pecos, Texas)