Four Texas Cities Top List Of Largest Price Growth
SANTA CLARA, Calif. (Realtor.com)– Four Texas metros have topped Realtor.com's list of markets with the largest price appreciation since 2006.
Austin-Round Rock took the top spot with 62.9 percent home price growth in ten years. In 2006, the metro's median home price was $173,510, jumping to $282,625 in 2016.
Dallas-Fort Worth-Arlington (51.6 percent), San Antonio-New Braunfels (45.9 percent), and Houston-The Woodlands-Sugar Land (45.5 percent) ranked third, fourth, and fifth, respectively.
The only metro outside of Texas landing in the top five was No. 2 Denver-Aurora-Lakewood with 53.5 percent growth.
Nationally, the median home price increased from $232,000 in 2006 to $236,000 last year.
While home prices have returned to the boom levels of a decade ago, there are no signs of a real estate "bubble" bursting, says Realtor.com Chief Economist Danielle Hale. Backed by tighter lending standards like the Dodd-Frank Act and Consumer Protection Act, current price appreciation is now driven by strong supply-and-demand fundamentals.
Prices right now are driven by 4% interest rates.
Unemployment at about the same rate.
People are moving to Texas. Better weather (I have never in my life shoveled a drive way or worried about slipping on the ice) and no state income tax.
I am sure there are more reasons, but those are just a few off the top of my head.
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