Housing Market Strong in Texas Despite Oil Decline

The lone star state is experiencing a strong housing market, despite the recent declines in the oil and energy sectors. This is due to Texas’ major cities and their thriving local economies.

Austin

The vibrant city of Austin was named one of the nation’s strongest job market by WalletHub. And Forbes agrees, as they named Austin a booming city with one of the fastest-growing markets. With strong job growth, a rise in home purchases, and a thriving economy, it’s no wonder Austin has one of the healthiest housing markets in the country (MarketWatch).

Austin Texas Homes

Houston

The decline in oil would have hit Houston the most drastically, but this not the case. The United Van Lines reports that this Texas city is ranked one of the top 10 Moving Destinations in the whole United States with a 57% increase in inbound migration. This new movement is adding to an already robust economy, as Forbes recently noted Houston on their list of Booming Cities.

Dallas

The friendly city of Dallas experienced a real estate market boom recently that has surpassed the one in the 1980s. The reason for the increase is major corporations adding more jobs, which in turn migrates more people to live in this metro. The companies include Toyota, Liberty Mutual Insurance, Charles Schwab, and State Farm Insurance. The growth in Dallas isn’t set to slow down anytime soon, as it is one of the cities that received the most views on Realtor.com last month.

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