Market Activity
Texas real estate remains a strong long-term investment
In five years, the average home sales price in Texas has increased 13% in value, or $21,300 (November 2004 to November 2009); over the same period, median sales prices (half of all homes sold are priced higher and half are priced lower) also increased 12% in value, or $15,100. Also, with the state’s population growth expected to rise 11 % by 2015, all those people will need a place to live. In fact, Texas home sales have been on a steady upswing, increasing 62% from January 2009 to November 2009. * Data from the Real Estate Center at Texas A&MTexas homes are more affordable
Using a ratio of average family income to income required to qualify for a loan, the Housing Affordability Index indicates the proportion of the population that can afford to buy the average home sold during a certain time period. The higher the index, the more affordable the housing in that area. See the Housing Affordability Index Comparison chart below from the Real Estate Center at Texas A&M.| MLS Area | 2009 Q3 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 |
| Texas | 1.84 | 1.59 | 1.45 | 1.52 | 1.68 | 1.77 | 1.81 | 1.68 |
| US Total | 1.57 | 1.33 | 1.11 | 1.09 | 1.23 | 1.34 | 1.61 | 1.43 |
