Will Texas Single Family Home Market Remain Hot in 2017?

Can North Texas continue to hit new records for single-family home sales? The summer of 2016 was a record year for the North Texas single-family home market. Bankers celebrated the year at the “Texas Bankers Association’s Annual Strategic Opportunities Conference” from November 6th to 8th 2016.

“Record 2016 North Texas Home Sales”

At the end of 2016, the “Zillow Home Value Index” for Texas had the median price at $161,300. This represented a 1-year change of plus 8.4% compared to 2015. This is an astounding rise, similar to what was seen in the go-go days of the 1990s housing boom. Has the American housing boom returned?

The housing numbers were encouraging all the way down the line. At the Texas Bankers Conference, they could celebrate a good year and discuss what was needed to keep it going. Texas has great weather, recreation and a tremendous energy job market.

The top Texas bankers could start to calculate how many mortgages, they expected to sell for 2017. Perhaps, home builders would be encouraged by the skyrocketing figures. They might need some construction loans to handle the increasing demand.

“NexBank Provides High-Demand Mortgages”

Every year, the Texas banking industry will reassess the mortgage market. With the hot year in 2016, the banks will encourage their workers to sell more mortgages for 2017. The CEO and President of NexBank spoke at the Texas Bankers Conference and shared his views on the financial markets.

As other housing markets start to slow down, there are many people who are willing to move to the wonderful State of Texas. Energy will always be in high-demand and this will ensure that there are always plenty of good jobs in the energy states, like Texas. NexBank is hoping that 2017 will be even better than 2016.