McAllen Ranked #1 Fastest Growing Real Estate Market

Expected To Post Gains For Upcoming Year

According a recent list from CNNMoney.com, McAllen, TX ranked as the #1 Fastest Growing Real Estate Market. The rankings include a twelve month growth projection of 4% with a median home price of $109,000. The second city listed does not come very close to McAllen and has a projected twelve month growth of 2.7%. The article mentions the state of Texas is not feeling the housing crisis as hard as other states. In fact, El Paso, TX also made the list with a twelve month projected growth of 1.8%.

With the housing situation in the national spotlight, this is another bright spot for our region. As predicted at the beginning of 2008 by President and CEO of McAllen Economic Development Corporation, Keith Patridge, our region continues to do well even when the markets in the United States start to soften. Patridge thinks that McAllen MSA’s recent ranking as one of the Nation’s Best Cities for a job as a result of ranking 2nd in the Nation for Income Growth and 1st in Job Growth by Forbes Magazine contributes to our local economy by keeping our other economic sectors strong. Patridge comments, “Companies relocating and expanding here has a direct effect on other economic indicators, not just the manufacturing and job sector. The people who are relocating with the companies are purchasing new homes and putting more money into our local economy.”

The McAllen Economic Development Corporation is a not-for profit organization under contract with the City of McAllen to create jobs for the citizens of McAllen by attracting new industry and helping existing companies to expand. We are the new Texas. Bilingual, Bicultural and Pro Business.