Red Zone Podcast: Jim Gaines Tackles Your Housing Market QuestionsRed Zone Podcast: Jim Gaines Tackles Your Housing Market Questionshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=100212015-06-26T14:34:00Z2015-06-26T00:00:00Z

One question concerned the impact of lower oil prices on home sales and apartment occupancy in San Antonio and Corpus Christi. Gaines said the drop in oil prices affects the overall economy, specifically employment, which consequently affects the housing market. He said the impact is not as great as economists have expected, but the state is seeing some unemployment. Still, Corpus Christi and San Antonio are holding up well.

"I think the bottom line of this is both communities will start feeling it a little bit," Gaines said. "I don’t think the impact will be quite as dramatic as what we might have anticipated if we had been sitting here talking about this four, five months ago."

Gaines also addressed a question about market trends for both housing and acreage in and around rural Brazos Valley.

"The main impact probably is going to be on the acreage," he said. "Land values do tend to continue to expand . . . it’s hard to say this in Texas, but land is beginning to get more precious and scarce because of the population growth and people wanting to have land."

As for housing, Gaines said "Home values and home prices in some of the smaller communities are not getting the same impact as the major urban markets."

College Station-Bryan
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