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What 30 Years of Texas Home Prices Tell Us
Home prices aren't rising as quickly as they did a few years ago, but short-term changes don't tell the whole story. We look at 30 years of Texas home-price data and what it tells us about appreciation, equity, and long-term homeownership.
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Read the transcript
I've heard some concern lately that because home prices aren't rising as quickly as they did a few years ago, maybe home appreciation has run its course.
But slower appreciation isn't the same thing as falling home values.
According to the Federal Housing Finance Agency, Texas home values are almost four times what they were 30 years ago. Now, that didn't happen in a straight line. We had periods when prices barely moved, and Texas values even declined for a few years around the financial crisis.
That's why I wouldn't judge a home as an investment based on what prices might do next year.
Your home is first and foremost a place to live. But if you own it for the long term, history shows that appreciation can add significantly to the equity you're already building by paying down your mortgage.
And remember - it's always okay to ask. We're here to help you get home.