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Rockport Area Market Analysis Early 2008
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Market comparisons for January 2007 & January 2008 for the Rockport area reflect a healthy increase.
MLS records reflect sales increased by 9 units in Jan 2008, resulting in a dollar sales increase of slightly less than 2 1/2 million dollars.
Median unit prices Increased sharply in Jan 2008, compared to Jan 2007. Median prices in Feb 2008 mirrored Jan 2008 but shows a decline when compared to Feb 2007. |
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| Rockport Area Climate Report |
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The U.S. needs to "climate proof" its domestic infrastructure including military installations, particularly along its coasts, to ensure it is prepared to withstand and respond to extreme weather events.
As Hurricane Katrina showed, investments in risk reduction are likely to be much cheaper than disaster response. Substantial investment in risk reduction: coastal defenses, building codes, emergency response plans, and evacuation strategies, among other measures.
Many coastal builders are building homes well beyond the established local building codes. The Insurance Industry has embraced these higher standards as the result in less likelihood of storm damage.
These Systems Built hurricane resistant homes have added value for the homebuyer. |
| TexasGulfCoastOnline.com’s demographic calculations for February 2008 |
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Rockport’s Top Five Potential Buyers Demographic Graphs for February, 2008 show that most potential buyers with interest in the Rockport area are United States Citizens mainly from Austin-Houston-San Antonio area with other interested buyers from McAllen and Manchaca.
Among the other states California leads the pack most likely due to the recent real estate value crisis wrecking havoc on California coastal properties. Find Out Why
States that are clearly in trouble: California with a 286% increase in foreclosure activity from 2006, Arizona up 168%, Nevada up 279% and Florida up 144%. Coloradoans also expressed high interest in the Corpus Area, followed by New York and New Mexico.
Foreign Buyers also made numerous inquiries about the Rockport as a falling dollar produced bargains for foreign buyers. Canadians showed the most interest followed by Germany, England and Mexico.
The events of 2007 have made the United States much more affordable for international home buyers. Severe dollar declines against the euro and pound have made U.S. homes much cheaper for Europeans. But even foreign buyers without that sort of currency advantage are benefiting from sharp drops in housing prices at a time when problems in mortgage lending are keeping many Americans out of the market.
At the same time, many foreign real estate markets, especially in Europe, have experienced sharp increases in home prices.
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