Texas housing on bumpy road after stimulus effects fade

Texas’ housing sector remains in the doldrums following demand spikes in 2009 and 2010 aided by the homebuyer tax-credit program. When the federal government first offered the incentive in mid-2008, Texas home sales and construction were in a rapid descent that began with the U.S. housing crisis and accelerated when the state joined the nation in recession. As part of broader housing measures, a series of three homebuyer tax credits sought to reduce bloated inventories and arrest free-falling home values—a condition felt more profoundly at the national level than in Texas.