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A Decline in Houston New Homes

Sep 6, 2007
Buyers interested in Texas property markets might have been wondering why there are fewer Houston new homes for sale in the last few months. Although the decline in property sales can be attributed to the changes to sub prime lending laws and the current housing crisis, the area does not seem to have been hit as hard as many markets across the country.

The decrease in Houston new homes being sold has only declined by a little over 2.2%, and this is not a significant decrease with the current housing market problems in mind. Houston is quickly becoming one of the best new places to live in USA because of the market's seeming resilience to the fluctuations of other areas' property prices. There is a certain amount of buyer skepticism which is contributing to a slight decline in price, but this is being balanced by an almost-equal amount of seller resistance.

One of the factors that is going to greatly improve the market in these parts is that in Houston new homes are being developed in many zones. The prices of these homes might suffer slightly from the general atmosphere of the property market, but over all they will generally present good investment options. Most of these new developments are being built with quality and value for money in mind, and so you won't see very many cardboard box homes going up for sale in the near future.

While this does mean that many of the homes for sale in this area will be small to medium size family homes, there is still a large inventory of condominiums and smaller homes, as well as larger estates and group investment opportunities. The mid-range property prices - those between $80,000 and $140,000 - have been hit hardest by the recent developments in the market, and homes in these ranges are now slightly cheaper than they were a few months ago.

On the up side, the general resilience that the market has shown thus far during the housing crisis is a good indication of future performance. If the market turns up, any Houston new homes bought during this period will appreciate dramatically. If the market continues its downturn you will be secure in the knowledge that your property is not losing much value, and will soon recover anything lost.

The advantage of many of the new homes coming up in Houston is that they are mostly situated close to some of the best schools in Texas. If you have children then you will probably want to move to some of the newer areas, as more schools are feeding from these zones.

So where are the best new places to live in Texas to be found? Galveston county has a lot of new developments going up that are priced extremely low for their size and location. These properties are a value investor's dream buy, and are sure to appreciate dramatically over the next decade. One large development that shows a lot of potential is the Tuscan Lakes estate housing complex in League City. This is an 870-acre estate that has stunning grounds and well-priced family homes available.

Although there has been a decline in sales in Houston over the past few months, this gives very little indication of a depreciation of the property market in the near future. Property prices have slowed in their growth, but there is a lot of evidence to suggest that they will resume or even exceed previous growth rates within a year or two. With the current uncertainties in the market it is not possible to say whether you would be better off buying now or in a few months time, but either way your investment should show good, solid long term appreciation.

While many property markets are not even beating the inflation rate at the moment, Houston offers some sound real estate investments. There is a lot of potential in this market, but diligent house-hunters will be rewarded with good bargains on fantastic homes. If you keep an eye on the property listings, you should find homes that are well worth a look.
About the Author
Tuscan Lakes, a project of The Johnson Development Corp. provides an Italian-themed oasis in League City, TX. Architectural and landscaping elements reminiscent of the Tuscany region of Italy are integrated into amenities. For more information, visit http://www.tuscanlakes.com
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