Florida and Texas Home Prices Show No Major Signs of Danger From Storms
Perhaps some of the best news to come in the last few months for Florida and Texas, is the fact that home prices haven't been effected by the huge storms that rocked the states in the summer.
"Florida's home prices increased during September, while in Texas there was a minimal decline from August, a sign the major storms that hit both states had little impact on values," according to National Mortgage News.
According to the report, there has been a 6.36% year-over-year increase in home values during the month of September.
"The annual appreciation rate for August was 6.24%, while the month-to-month increase was 0.24%," according to the report.
Meanwhile, Florida's median home value only hit $248,000 in September, which is nowhere near the April 2006 peak of $297,000.
Numbers for Florida and Texas seem to be holding true despite storms that destroyed homes and put plenty of inventory in jeopardy.
Some states in the Mid-West and Northeast like Michigan, Connecticut and more suffered the largest value decreases in September.
To learn more about the stability of median home prices in Florida and Texas, click on the image above.
