Housing expert sees prices still climbing

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A national housing consultant predicted Tuesday that Houston-area home prices will continue to rise over the next several years before dipping when there’s a downturn in the national economy. “At some point, there will be a hiccup,” said John Burns, CEO of Irvine, Calif.-based John Burns Real Estate Consulting, addressing 500 builders, developers and investors at a real estate conference at the Marriott Westchase. Buyers are willing to pay a premium to live in these neighborhoods, which generally hold up better during economic downturns. Low mortgage rates have helped borrowers move up to nicer homes in neighborhoods zoned to the best schools.

 

Troy Corman‘s insight:

Houston is the number 1 new home construction market in the country.

See on www.houstonchronicle.com