Texas Housing Market Predictions 2022 and 2023
Abstract
The Texas housing market is expected to grow in 2023, according to PwC and the Urban Land Institute's Emerging Trends in Real Estate 2022 research. In April, the typical single-family house price in Texas surged to almost $350,000, and the national mortgage rate rose about 2% in a year, making home purchases difficult. Rising future supply and high borrowing costs are likely to curb home price rise. Both Texas and U.S. Residential Construction Leading Index indicated construction activity are expected to strengthen in the coming months. In Texas, construction activity isexpected to strengthen.
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