Texas had the second highest gross state product (GSP) in the United States. Today, the Port of Houston in Texas is the busiest port in the United States in terms of foreign tonnage, second in terms of total tonnage, and tenth in terms of global tonnage. The prosperity of Texas fosters a strong commercial sector that includes the retail, wholesale, banking and insurance, and construction industries.
Texas is in the second top state where new home buyers are ready to move.
Texas Housing Insight
Supply
Just after more aggressive Federal Reserve intervention, the rate of interest continued to rise. Despite rising interest rate pressure, the number of single-family construction permits in Texas increased by 9.3 percent from July to August (MOM). Permits increased in three of the state's four major metropolitan areas (San Antonio being the exception). Houston (3,700), Dallas (3,693) had the most permits, followed by Austin (1,609) and San Antonio (681), respectively. In the meantime, single-family construction values in Texas continued to decline by double digits, reaching a two-year low. All major metropolitan areas reported negative year-to-date (YTD) growth in double digits.
Permits for the Texas multifamily sector have been amended. After an abnormally high demand for 12,500 construction permits in July, August had seen the issuance of 9,000 permits.
Responsibilities of Real Estate Agents
· Avoiding Closing Problems
· Code Expertise
· Ethical Consideration
· Finding Available Homes
· Pricing Expertise
· Requesting Repairs
· Tackling the Paperwork
· Thorough Record Keeping
· Unemotional Negotiation
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