Register Real Estate Advisors

LANCASTER (Dallas Morning News) – This southern Dallas County suburb has the most affordable
average home price in Texas, according to Coldwell Banker Real Estate’s annual
home listing report.

With an average price of $100,246 for a four-bedroom, two-bathroom home,
Lancaster was rated the state’s most affordable in neighborhoods that
professionals would find attractive.

At the other end of the scale, Colleyville ranked as the most expensive
Texas market with an average price of $350,710 for a house with the same
specifications.

Dallas ranked No. 1,098 in affordable prices among all the U.S. cities
surveyed with an average price of $233,402. Fort Worth, at $160,294 for the
same home, was 314th nationally.

Nationwide, the average price in the comparison was $293,251.

TEXAS (Real Estate Center, The Herald-Zeitung) – Despite rising foreclosure rates in the United States (now nearly 32 percent), the rate in Texas is down 14 percent since last year.

Jim Gaines, research economist with the Real Estate Center at Texas A&M University, said the Texas housing market is doing very well compared with the rest of the nation.

“We’re being compared to large, high-growth states like Florida, New York, California and Illinois, and our housing market is in much better shape. This is partly because about four or five years ago, we didn’t have the big run-up in prices that many of those states had,” Gaines said.

Texas also benefits from a lack of overbuilding, which often creates an excess of inventory to drive down home prices.

Affordable homes, low mortgage and interest rates, and first-time homebuyer tax credits also make this an ideal time to buy a home, according to Gaines.