HOUSING MARKET UPDATE

[Lisa Bujulian]

TX HOUSING MARKET UPDATE : From the Texas A&M Real Estate Center Journal, Jan 2017

PIPC relates to the personal income per capita used to represent income growth.

PIPC growth in Texas has outpaced housing price growth to a greater degree than in the U.S. as a whole.

Austin is near the top in both PIPC growth (15th) and housing price growth (34th) overall.

Texas has continually improved its residents’ standard of living through increases in PIPC thanks to benefits of energy efficient sectors and other economic advantages Texas offers, ex. no state income tax.

The key takeaway being Texas personal income per capita growth has exceeded housing price growth, increasing housing affordability in the state.