The increased demand in Texas makes sense as it’s becoming a huge refugee camp for Californians and other hi tax escapees.
But overall, don’t fall for it. We are seeing some price creep & a lot of sales activity in my area as well but it’s just another bubble triggered by the steep fall due to foreclosures & extension of the homebuyer tax credits.
Inventory is temporarily low in some markets so prices have crept up. In CA, lenders can’t foreclose anymore without jumping through an extra 90 days of hoops.
The next foreclosure tsumani is on its way & will drag the market down further: too many buyers are using FHA loans with looser standards & 3% down (mostly paid by sellers); strategic foreclosures as borrowers who could pay walk away when they figure out they’re well over 50% upside down & more unemployment foreclosures.
Wouldn’t trade my place in the Denver suburbs for any house in any of those places!
Waco is a nice town, not sure I’d want to live in those Texas towns that are farther west.