Six Texas metro areas have made large gains in the housing market recovery index produced by Homes.com. The Rebound Report takes a look at local market index data from years past and compares it to current figures. Using this data, the report shows that six Texas metro areas have more than recovered from the housing market woes that helped create the most recent recession.
The Rebound Report presents a number as a percentage of overall gains since the housing market crash. Complete recovery is notated as “100%” while anything below that number indicates a metro area still working towards full recovery. Any percentage above 100% indicates recovery along with gains in the housing market.
Texas Fairing Well in Housing Market Recovery
The top four of the top ten metro areas for housing market recovery are Texas cities. In addition, two other Texas metro areas made the top ten.
#1 San Antonio-New Braunfels – 290.12%
#2 Houston-Sugar Land-Baytown – 276.57%
#3 Austin-Round Rock-San Marcos – 271.35%
#4 Dallas-Fort Worth-Arlington – 261.13%
#7 McAllen-Edinburg-Mission – 231.11%
#9 El Paso – 169.01%
It is interesting to note that the bottom ten metro areas for recovery are located in Florida (6 metro areas), Nevada (1 metro area – Las Vegas-Paradise), California (2 metro areas), and Rhode Island/Massachusetts (1 metro area – Providence-New Bedford-Fall River). As these were some of the hardest hit states, their recovery is apt to be slower.
With all the great housing market recovery news coming out of Texas, commercial real estate is seeing gains as well. A better housing market equals more people relocating, more people equals more business, more business equals more jobs, more jobs equals more opportunity for Texas businesses to grow and expand and gives more out-of-state businesses a reason to relocate.
image courtesy of eschipul
