It’s Looking Good for Homebuyers in Dallas and Austin
The housing market in Texas is softening with continued construction and lower migration into the state.
Texas is building.
Photographer: Jordan Vonderhaar/Bloomberg
It’s been a tough week for those hoping to see the US housing market start to recover from two years of sluggish activity. Mortgage rates have jumped since the release of better-than-expected jobs data, raising doubts about just how much — or whether at all — Federal Reserve policy easing will lower home-loan rates. Could we really be in for a third year of borrowing costs above 6% sidelining buyers and sellers?
The good news for would-be buyers is that housing inventory levels are rising in some metros, particularly those where construction continues and that have seen a slowdown in interstate migrants. The state with the best fundamentals for buyers come next spring is likely to be Texas.