From staff reports
It’s no secret that housing took a huge hit during the last recession. But during this long period of economic expansion that followed — a record 121 months as of July 2019 — how did the market fare?
A special CoreLogic report, “The Role of Housing in the Longest Economic Expansion,” takes a look at the years from 2008 (the start of the Recession) to July 2019.
“June 2009 marked the trough of the Great Recession, after which gross domestic product (GDP) and industrial production resumed growth,” the report said. “Since then, the economy has continued to grow. With housing comprising approximately 15 percent of GDP since 2010, the real estate market is an important indicator of economic health.”
How did that factor in Texas? The report refers to the CoreLogic Home Price Index, which uses public records, real estate databases and other data, as well as more than 40 years of repeat sales transactions to analyze home price trends. (more…)