Texas Home Prices Reach All-Time High While Oil Prices Decline
Think falling oil prices may negatively impact the Texas housing market? Think again.
According to the latest Texas Quarterly Housing Report, home prices statewide hit an all-time high of $200,000 during the second quarter of 2015.
That’s an 8.1 percent increase compared to the same time last year, despite the decline in oil prices.
“The impact of lower oil prices continues to be delayed, leading to a surprisingly strong second quarter,” Scott Kesner, the Texas Association of Realtors chairman, said in the report. “This is further evidence of the strong and enduring demand for Texas real estate.”
To view the full report results, visit Texas Quarterly Housing Report.
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