CORPUS CHRISTI, Texas — The state comptroller recently gave an update in a recent report detailing how Texas needs to build more homes in order to bring down its housing costs.
A side effect being an intense and often very expensive situation for anyone looking to one day to own a home.
The report highlighted how home prices rose by 40 percent between 2019 and 2023. Also, in order to meet the housing demand, Texas will basically need to build thousands of new homes statewide.
“We are seeing some tremendous growth with industry and many jobs and businesses that are going to be coming and moving to Texas,” local realtor and elected Nueces County Appraisal Board member James Magill said, referring to the economic boom spurring the need for more homes across our area.
Magill said the housing market has become more competitive, especially if existing homebuyers have locked in a good interest rate.
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