People should really stop freaking out about the current housing market if they live in our great state of Texas. The summary below is from RECON (ATM’s real estate center in College Station) and is terrific news.
HOUSING MARKETS SEE LOW DEPRECIATION RISK
WALNUT CREEK, Calif. (PMI Group) – Mortgage insurance firm PMI Group has estimated the future state of Texas’ housing markets in its fourth quarter 2008 U.S. Market Risk Index.
The report focuses on where markets will be two years from now and calculates risk of home price depreciation.
The firm predicts that Austin–Round Rock has a risk index of 17.4, or a 17.4 percent chance of experiencing price declines in its housing market within the next two years. That is up from its 5.4 percent chance in third quarter 2008.
San Antonio has a risk index of 3.8, up from its 1 percent chance of price depreciation.
Houston–Sugar Land–Baytown has a risk index of 2.7, up from less than one in third quarter 2008.
Dallas–Fort Worth has the lowest risk index of the major Texas metros, with a 2.5 percent chance that its home prices will decline over the next two years, up from a less than 1 percent chance.
For the complete PMI U.S. Market Risk Index, see PMI’s fourth quarter statistics.
Home buyers and even sellers in Dallas, Richardson, Plano and surrounding areas should be ecstatic about this news. If you are, and you want more good news, stay tuned or respond to BigDBlog to find out how to take advantage of this great market.
Thanks,
BigDBlog
