There’s a lot to look forward to in the housing market this year according to Mark Dotzour, chief economist of the Real Estate Center at Texas A&M University. During his presentation at Winter Meeting last Tuesday, Dotzour explained why he thinks Texas REALTORS® should be optimistic about the future of housing and economic growth. A few reasons he presented include:
- Home prices are up for the eighth month in a row
- Buyer psychology has shifted from negative feelings about purchasing property to positive feelings
- More than 3.6 million job openings are currently available in the United States in industries such as construction, manufacturing, and healthcare
- Americans have credit capacity again
He also shared his opinion that home prices in Texas will increase this year because of inventory levels and consumers’ demand for housing. See what else Dotzour and his colleagues have to say about Texas’s real estate industry by following the Real Estate Center’s blog.