Home Prices Hit Record Highs, Texas Still a Good Place to Be

Texas's housing market remains relatively strong compared to slowing markets in the Northeast and California, despite high mortgage rates around 6.5%. Home prices have reached record highs near $441,000, but many Baby Boomer sellers refuse to lower asking prices, leading to fewer sales. A significant drop in mortgage rates to about 4% is needed to boost market activity and affordability for younger buyers.