U.S. News – Houston Best Undervalued Place to Live

Reading over the U.S. News and World Report I found a great article about Houston, TX.  Accouding to the article Houston has not been hammered by the housing bust!   Here is a little taste of the article for you to read:

Houston. Unlike other metropolitan areas, Houston has not been hammered by the national housing bust. In fact, real home prices increased nearly 5 percent from the first quarter of 2008 to the first quarter of 2009, according to a Brookings Institution report. But even without a sharp decline in real estate values, projected job and population growth should drive future home price appreciation and create value, says James Gaines, a research economist at the Real Estate Center at Texas A&M University. “The medium- and long-term prospects for Houston are extremely good,” he says. The area’s low-tax, pro-business climate will lure new employers to Houston and help bolster an already sound local economy anchored by the energy and healthcare sectors, Gaines says. More jobs, of course, mean more residents and greater demand for housing. “[Houston has] good demographic growth, job growth, and a reasonably balanced housing market,” he says. The median home price in Houston was $120,000, in the first quarter, which IHS Global Insight considers 37 percent undervalued.

To read the complete article, visit U.S. News and World Report

William Woodard

Sales Professional

J. Patrick Homes