Journal Article

Hot housing market catching cold in Texas

Abstract: The Texas housing market enjoyed a remarkable upswing in the middle of this decade. ; Home sales and building accelerated in 2004 as the state's economic engine revved up, generating strong population and employment growth. Historically low interest rates attracted new homebuyers, while the rise in nontraditional mortgages fueled the market's strength as more Texans were able to obtain financing even if they had flawed credit or lacked down payments. The state's homeownership rate reached a record 66 percent in 2006, up from 61.8 percent 10 years earlier.

Keywords: Housing - Prices; Construction industry; Economic conditions - Texas;

Bibliographic Information

Provider: Federal Reserve Bank of Dallas

Part of Series: Southwest Economy

Publication Date: 2008

Issue: Jan

Pages: 11-14

Order Number: 1