Texas is still a safe market to buy a home

The Real Estate Center at Texas A&M had a short article from a study by the PMI Group. The article talks about how the 4 major cities in Texas have a less than 1% of seeing home price depreciation

Four major Texas metros were ranked among the least likely in the country to experience home-price depreciation in the next two years, all with less than a 1 percent chance.

On the list of 50 major U.S. metro areas, San Antonio placed fifth from the bottom with a 3.95 volatility rate and a 4.02 price appreciation in second quarter 2008.

Ranking third from last was Houston–Sugar Land–Baytown, which had a 1.74 volatility rate and a 4.44 price appreciation.

Dallas-Plano-Irving came in second to last, showing a 0.93 volatility rate and a price appreciation of 2.06.

Fort Worth–Arlington came out best with a 0.89 volatility rate and a 3.07 price appreciation.

All Texas MSAs had less than a 10 percent chance of prices decreasing in the next two years.

San Antonio's appreciation rate was only second to Houston's 4.44% vs. 4.02% in the second quarter of '08. Great news for us in San Antonio. While those numbers may not look great, parts of Florida, California, and Nevada saw depreciation rates in the high teens.