Texas Housing Market Prices Outpace Income Gains

According to the Federal Reserve Bank of Dallas, between December 2010 and December 2015, the nominal median existing-home sales price in Texas increased 34 percent from $149,500 to $200,000 while the nominal median household income increased by only 14 percent. The drop in mortgage interest rates during this time frame was insufficient to offset the increase in property prices.

Comments are closed.