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TEXAS HOUSING MARKETS SEE LOW DEPRECIATION RISK
WALNUT CREEK, Calif. (PMI
Group) – Mortgage insurance firm PMI Group has estimated
the future state of Texas' housing markets in its fourth quarter 2008 U.S.
Market Risk Index.
The
report focuses on where markets will be two years from now and calculates
risk of home price depreciation.
The
firm predicts that Austin–Round Rock has a risk index of 17.4, or a 17.4
percent chance of experiencing price declines in its housing market within
the next two years. That is up from its 5.4 percent chance in third
quarter 2008.
San Antonio has a risk index of 3.8, up
from its 1 percent chance of price depreciation.
Houston–Sugar Land–Baytown has a risk index
of 2.7, up from less than one in third quarter 2008.
Dallas–Fort Worth has the lowest risk index
of the major Texas metros, with a 2.5 percent chance that its home prices
will decline over the next two years, up from a less than 1 percent
chance.
For the complete PMI U.S. Market Risk
Index, see PMI’s
fourth quarter
statistics.
Courtesy of
RECON
Real
Estate Center Online News
April 3,
2009
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