NeighborWho, the leading property search company, has analyzed recently released US Census Bureau data to show where the surges in new permits are happening: Houston leads the nation in 2020 new single-family home permits: Ted Jones is the Chief Economist for Stewart Title says this does not surprise him. "Once of the reasons our housing markets are doing well is that people are coming here and they're actually creating the demand for added housing. They are moving from high tax states, and from high density locales." Jones says many Houston-based workers who are working from home and are choosing to build new homes in areas like Sugar Land and The Woodlands. "We still are under 3% mortgage interest rates for conventional loans. That won't be here for long as inflation heats up. The quicker you act the better."
Jones says people from all over the country are finding lower taxes, lower property costs and better work opportunities here and are building new homes. "More and more firms are saying, 'You know, more than 20% of our workforce may be able to work from home.' As a result, people are saying, 'Hey! If I don't have to go into the office every day, I'm more than willing to buy a beautiful home out here - it cost less than inside The Loop and it's a great lifestyle."
photo: NeighborWho