31 Mar 08 Unemployment Rate in Texas Effects the Real Estate Market

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With most of the real estate experts saying that the market is on the right course, it will still be another two years before we see a positive trend. However, the Texas real estate markets have seemed to withstand the slump and in some parts of the state homes are actually increasing in value.

According to a study by First American Loan Performance some cities in Texas such as Austin have defied the downward trend seen by most of the U.S. housing markets. The average home is up 4.94 percent over the prices in February of last. The strength of the Austin market comes from the regions unemployment rate (3.3 percent) which is lower than the national rate of 4.4 percent.

Employers have added about 206,400 jobs in the last 12 months and the job growth rate is holding steady at 2 percent. As one of the few cities in the country with a positive real estate market you can be assured that making an investment in Texas real estate is a great decision.

This information was gathered from NARREIA the National Association of Residential Real Estate Investment Advisors

Tags: austin real estate, first american loan, real estate investment, real estate market, Texas Real Estate, unemployment rate, us housing market