I'm going to go out on a limb and say it could go either way.
Readers digest version of this whole article is this snip:
These are not normal times.
It could go either way in the coming months and quarters.
Covid screws up everything. We won’t know what a normal real estate market looks like again until we are back to whatever new normal we end up with post-shut downs. Only then will economic activity get back to some semblance of normalcy along with mobility trends. People are really hunkered down right now, except those fleeing Covid and paying anything to get a house where they think they are safe and away from the disease and away from rioting.
It is anything but normal right now.
Interest rates will be low from now until kingdom come, or until the impending financial collapse/hyperinflation. Whichever.
Nobody knows what normal looks like right now.
I'm going to go out on a limb and say it could go either way.
Victoria TX: Note that two years ago, Hurricane Harvey stalled over Victoria for more than a day, and caused much havoc. No wonder it’s housing values declined. It’s amazing that it was well under one percent.
College Station TX: Home of Texas A and M university. No more needs to be said.