- Housing prices in Texas have been steadily rising at a moderate pace for many years, even while other states have experienced wild price fluctuations.
- If you’re a first-time buyer (not owning a principal residence in the last three years), you may qualify for a tax credit of up to $8,000. This federal tax credit expires Dec. 1, 2009.
- Other Texas-specific programs can lower your interest rate or provide additional tax-credit incentives.
- Interest rates are at or near record lows. Even small reductions in the interest rate can significantly boost the purchase price you can afford when buying a home. Texas has one of the most affordable housing markets compared to household income, according to the Real Estate Center at Texas A&M University.
- Our state’s economy is strong and diverse, and the population is expected to continue growing steadily. These factors all point to continued health in the housing market.