Why Texas Hill Country Real Estate Is Thriving.
Texas has become the American Pharoah of the US economy; fast, headstrong and continually setting the pace above every other state. At the end of 2015 the Texas unemployment rate was 4.7%, a steady decline from 5.7% in 2014. Compared to the nations unemployment rate currently at 5.5%, things are looking bright for Texas. With new companies moving their headquarters here in the coming months, the Texas economy shows no signs of slowing down. Texas’ unemployment rate has been besting national average for the last 8 years.
This means great things for the real estate market and in the Texas Hill Country the market is certainly looking robust. Statistics point to a thriving Texas Hill Country real estate market, so the time is now to get in on your piece of Hill Country paradise as prices continue to rise with the booming economy. There are several reasons why the Texas Hill Country is booming as it is and so popular, let's highlight some of the major ones.
The Hill Country is becoming more and more popular with northern transplants as well. More and more people are moving down to places like Fredericksburg for the warmer weather, job market, and lush landscape and rivers. Coming from an economic region where housing costs nearly 3 times as much it has made the market swell as people will pay more and still pay less than our neighbors to the north.
Business in North Texas is booming so much and housing prices are inexpensive enough that many newly transplanted executives can afford luxurious vacation homes in the Texas Hill Country. Executives can have their home base in North Texas and take a short day trip and escape to their Texas Hill country retreat.
With so many people moving here, this calls for a demand for business to serve their needs. New restaurants, markets, retail centers and services are all growing at a steady rate over the last seven years. This introduces many new jobs into the job market and creates an even broader tax base to support infrastructure in the region.
What does this mean to you, the potential owner of a beautiful Hill Country estate? It means that with the economic climate being favorable, mortgage rates are also favorable following the economic boom and need for housing for newly transplanted employees and households with new found increase in income. This makes it a great time to get a loan and contact us to see what kind of home we can find for you.
Should your next real estate purchase be in the Texas Hill Country? Let Rob Cagle and the rest of our team at Texas Hill Country Real Estate tell you more about what it’s like to call the Hill Country your home.Make an appointment today to see what's available!