Study Shows Good News For Corpus Christi Housing Market
Corpus Christi--While many along the Texas Gulf Coast are still working to recover from Hurricane Harvey, one report released on Monday pointed that housing markets like those as here in Corpus Christi are returning to pre-Harvey levels. The report, complied by Nationwide Mutual Insurance, showed that local housing markets historically take about a year or more to recover from the rise in mortgage delinquencies that commonly follow hurricanes.
The report also showed that markets running along the Gulf from Corpus Christi to Beaumont-Port Arthur and Florida markets from Tampa-St. Petersburg south saw significant reductions in mortgage delinquencies by the end of 2018 and that, experts say is good news.
"While those areas are still recovering from the storms of 2017, the drop in delinquency rates shows that conditions are improving," David Berson, Nationwide senior vice president and chief economist said in a statement on Monday.
The Health of the Housing Market Report is released on a quarterly basis online and in print.