The Booming Economy in Texas Injects Vibrancy Into the State’s Residential Real Estate Market

While much of the country still seems mired in the doldrums of the last several years, Texas is booming with economic activity. The state’s leaders and citizens have committed to a business-friendly approach that eschews unnecessary regulation and overly high taxes in favor of more freedom and a welcoming atmosphere, and companies and families from around the country are taking notice. How long Texas’s boom will last remains an open question, but the certain reality is that it is an ongoing matter. Nowhere is that more obvious than in the state’s real estate industry, where both residential and commercial properties are being sold at record rates.

The Roxanne DeBerry Plano Texas real estate agency, for example, has experienced increasing sales levels for many months running. Located on the outskirts of the sprawling Dallas-Fort Worth metropolitan area that is a bright spot even in the white-hot economy of Texas, Plano is a quieter place that allows families some privacy, along with peace and quiet. At the same time, the city of roughly 300,000 residents offers easy access to the unrivaled economic activity to be found within Dallas, Fort Worth and other business centers of the region.

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That means that many people and families from around the country are interested in moving to the area, and the local real estate market shows it. Homes listed by Roxanne DeBerry at homes for sale in Plano TX commonly receive offers within days of going up, with many of these interested buyers putting in their bids from out of state without even seeing the properties.

The competitive atmosphere that prevails in the area, then, is an exceptionally good one for sellers, a fact that has caused many longtime property owners to decide that it is time to cash in. That is surprising some longtime real estate experts, because it had been thought that the crashing home values that characterized the last recession would take longer to recover from.

In fact, however, Texas’s status as a focal point of much of the real economic growth within the country has meant that property values have quickly caught up with and exceeded their previous heights. Prices for single family homes in the Plano area, for example, now average close to a quarter of a million dollars, an impressive figure for what amounts to a suburb in a relatively sparsely population metropolitan area. Some observers believe, too, that price tags in the area are set to climb even higher.

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