The real estate industry is always keenly interested in the outlook for transaction volume. If you have ever made a living on commission, you know why.
When I was in graduate school in Austin, we had a saying: “If you torture data long enough, it will confess to anything.” Well, the Center’s research economists have tortured Texas home sales data for decades, and we have found that three things help predict future home sales volume:
- job growth,
- cheap mortgage money and
- home price appreciation.
Texas continues to create jobs at an impressive rate.
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article by: Mark Dotzour
Chief Economist and Director of Research