Positive Real Estate Outlook for Texas Over the Next 25 Years!!

The long term outlook for Texas is substantially POSITIVE over the next 25 years!! Why is that? Well, mostly because Texas is one of the states in the country that is projected to have continuous job growth over the next 25 years and is one of the more desirable states to live in. Yes, I said one of the more desirable. Let me expound on that a little–it is one of the more desirable states to live in that are projected to have continued job growth over the next 25 years. Which of course is great news for those of us in the Real Estate industry!!
Let me start with a demographic overview of Texas(according to the Real Estate Center at Texas A&M University): - It is the fastest growing state in the absolute number of people- Texas is a “younger” state than the U.S. as a whole- The single major contributor to the population growth is immigration, both foreign and domestic. It is also probably signifcantly understated.- The racial/ethnic mix will reverse in the next 25 years- Aging Boomers represent a primary force
If you average the projection results, there will be an increase of 13.6 million people in Texas by 2030. To put that number in perspective, this would be equivalent of adding (to the current population of Texas):
another Dallas-Forth Worth metroplex, plus another Houston metroplex, plus another San Antonion metrolex, plus another Corpus Christi
The Dallas-Fort Worth Metroplex is anticipated to grow by 2.8 and 6.7 million more people by 2030.
All of this can only be positive for home sales in the Dallas-Forth Worth area. 2007’s home sales are anticipated to end the year slighly above 2005 by about 2.8%. However, this is certainly below sales in 2006 by 5.4%.