Relocating to Katy or Greater Houston has been a popular choice amidst the recent economic downturn. Katy and West Houston have always enjoyed a healthy relocation business due to proximity with the energy corridor. Affordable housing and quality public schools have been a consistent draw for many looking to call Katy their home. Katy has continued to grow, with new construction in master-planned communities like Cinco Ranch, Firethorne and Cross Creek Ranch. Katy will also see two new hospitals open in 2010 with the addition of Texas Children's West Campus and Methodist West Houston Hospital.
According to a recent CNNMoney article, more and more people are moving to Texas. According to the latest census figures, Texas added more residents than any other state during the past year. While real estate and employment have been suffering in states like California, Florida, Arizona and Nevada, the Lone Star State has seen minimal slowdown.
Data from Houston's Institute for Regional Forecasting indicate a recovery is in sight for 2010, and Houston should participate in that recovery along with the rest of the country. Dr. Barton Smith's most recent presentation, "Countdown to Recovery" also highlighted the strength of the local real estate market where Houston is still faring much better than the national averages. While prices of foreclosed properties have suffered, the non-foreclosed resale market has been been relatively unchanged. Sales data from the Katy area bears that out.
Here's to a prosperous new year in 2010!
