According to a story ran by Business 2.0 Magazine, the Houston real estate market is one of the top ten in the nation poised to bounce back from the current housing slump. Or meltdown. Maybe you prefer bubble. Crisis, anyone? Take your pick from the colorful slew of terms you hear every day in the news.

Regardless of our constant flirtation with Armageddonistic terms, there are markets throughout the U.S that are…well, stable. And Business 2.0 thinks the State of Texas has three of those markets in the top ten including Dallas/Fort Worth, Austin and Houston. In Houston’s case, $83/barrel oil is evidence enough that the local economy is doing quite well, adding jobs at a healthy pace. That and the fact that Houston has had a sustainable appreciation rates through the last 6-7 years leading up to the current problems have caused the local real estate market to do quite well, relatively speaking. We’re still feeling the pinch of tightening lending requirements but at least we’re not getting squashed by declining home prices. As a whole, the market is not growing as fast, but the slow sales of the lower priced homes (most affected by lack of subprime lending) are being offset by fast sales in the higher priced homes.

Next time you hear a report about a crashing real estate market in Vegas or West Palm Beach, remember that these same pundits were the ones praising these same markets a few years ago as great investments with aggressive growth.

Newscasters are Monday morning quarterbacks.

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