Austin Real Estate Blog

Central Texas Homes Are the Best Buy in 2008

Central Texas homes are the best residential real estate investment in 2008, according to a recent projection by real estate expert and investor Danielle Babb. Killeen resides at the top of the industry’s lists due to its lowest average home price and best quality in any market in the country. Round Rock and Austin’s job growth rates and stable housing prices–despite the national downturn–make these Central Texas cities particularly appealing to real estate investors. The area’s continued job growth is a major contributor to its low inventory and stable prices, factors that sustain a good housing market.

Home Market Always a Good Investment

Nationwide, an excessively high inventory has damaged home prices, especially for resale homes over the last ten months. Yet home-buying remains an excellent investment. Owning a home is only slightly more costly than renting, but the tax benefits of owning far outweigh those of renting. No matter what the housing market outlook, buying a home is always a good economic choice.

Housing Market Statistics

Some key statistics to look for when you examine a housing market:

-Job growth. Is the area’s job growth stable? Has it fluctuated over the last few years? Is it projected to remain strong or falter?
-Income/inflation ratio. Has the area’s average income kept in step with inflation?
-Crime rate. An area’s crime rate is an obvious concern for everyone looking to buy a home, but especially for new families. Families should also check on the area’s school districts.

-Foreclosures. What is the rate of foreclosures in your prospective home buying area?

Austin, Round Rock, and Killeen all test positively against these common real estate questions. Since they’re at top of the real estate industry’s lists, good homes could quickly go to real estate investors. For a good home and a good investment, check out some of the best buys on the Central Texas housing market today!