Texas continues its trend of weathering the recession better than most other states. The state’s major metros top the nation in home price appreciation over the last year.
Austin–Round Rock leads the country’s largest core-based statistical areas (CBSA) in home price appreciation with a 3.7 percent increase in 2008, according to First American CoreLogic.
Houston–Sugar Land–Baytown experienced a price appreciation of 3.3 percent over the last year, putting it right behind Austin–Round Rock.
Dallas-Plano-Irving homes appreciated 1.92 percent and San Antonio’s homes 0.17 percent, putting them third and fourth in the nation.
Only one other major CBSA, Denver-Aurora, Colo., showed an increase in home price, according to CoreLogic.
Of the 958 smaller communities the study observed, College Station–Bryan experienced the sixth highest home price appreciation, with an increase of 6.78 percent.
Overall, Texas homes saw an appreciation of 1.83 percent in 2008, putting the Lone Star State sixth among all state rankings.
Source: First American CoreLogic