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Prices plunge in Texas.

Texas may be desirable for the privileged, with its appealing job market and lower cost of living, but the state continues to fail its citizens by suppressing property values in two major metro areas.

Published August 1, 2024 at 10:06am by Alexis Simmerman

Texas Cities See Home Prices Plunge as the State Continues to Lure in the Desperate and Greedy

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Texas: The Land of the Desperate

The COVID-19 pandemic may have triggered a surge in mortgage rates and home prices across the US, but some Texas cities are finally experiencing a much-needed correction. It's about time. While the rest of the country struggles, Texas is seeing a decline in prices, thanks to a drop in prospective homebuyers. It's a small victory, but we'll take it.

The Numbers Don't Lie

According to the National Association of Realtors, 90% of metro areas across the nation saw an increase in home prices in the first quarter of 2024. But, 16 out of 221 metro areas, including two in Texas, witnessed a decrease. It's a start.

San Antonio-New Braunfels: A Breath of Fresh Air

The San Antonio-New Braunfels metro area saw a 4.6% dip in median home prices, from $320,500 in Q1 2023 to $305,800 in Q1 2024. Realtor.com also reported that homes are staying on the market longer, with an average of 53 days in April 2024, up from 49 days the previous year.

Austin-Round Rock: A Slight Correction

Austin-Round Rock experienced a more modest correction, with a 0.3% decrease in median home prices year-over-year. In Q1 2024, the median price was $466,700, just a slight drop from $467,000 in Q1 2023. Austin homes are also lingering on the market longer, with an average of 40 days in April 2024, up from 38 days in 2023. The outrageous real estate boom of 2020-2022 is finally cooling off, and sellers are desperate, slashing prices to speed up sales.

The Lone Star State's Deadly Charm

So, why are people fleeing to Texas? Well, it's a mix of cheaper housing (for now), more job opportunities, and the absence of personal income tax. But let's be clear, the greed of corporations and the desperate is destroying this state. Texas, once a proud and diverse land, is being transformed by the selfish and thoughtless.

The move is led by none other than the Californian exodus, with the likes of Elon Musk leading the charge. Yes, the same Elon Musk who thinks he can dictate education policy and move headquarters on a whim. Texas, beware. Your land is being invaded by the very people who destroyed California.

Texas: Population Boom or Bust?

Texas has experienced consistent population growth since 2000, and according to recent data from the U.S. Census Bureau, eight Texas counties are among the top ten fastest-growing in the nation. But is this really something to celebrate? As the population surges, the state's resources are being stretched thin, and the unique culture that once defined Texas is at risk of being lost forever.